QNB

QNB CAPITAL RECEIVES AWARD FOR ITS LEADING ROLE IN THE “BEST IPO IN THE MIDDLE EAST”

Posted on : Thu, 24 June 2010

Doha 24 June 2010 - Qatar National Bank (QNB) Group, through its investment banking and financial advisory arm QNB Capital, received the award for “Best IPO in the Middle East” from emeafinance magazine during an awards ceremony held recently in London.

QNB Capital received the award for its role as mandated Joint Lead Manager, Financial Adviser and Joint Lead Receiving Bank for the $1 billion Vodafone Qatar IPO in 2009.

The biggest IPO in Qatar and the region during 2009, the offering was open from 12-26 April 2009 and closed fully subscribed to raise US$1 billion in capital, representing 65% of the company’s total shares which were available for public subscription after the allotment of 35% to the founding shareholders.

The success of the offering was testament to Vodafone Qatar’s strong brand and potential for growth in Qatar, as well as QNB Group capabilities when it comes to managing public rights issues of this stature.

QNB is of one the most prolific arrangers and managers of Initial Public Offerings (IPOs) in Qatar and the region, having been involved in almost every IPO in the country since the inauguration of the Qatar Exchange in 1997.

QNB’s broad range of IPO services have helped enhance the Bank’s leading role in the domestic market and have been part of the Bank’s overall commitment to improving accessibility and expanding reach through the utilisation of multiple consumer banking channels.

During the Vodafone IPO subscription period, QNB demonstrated its commitment to subscribers by offering extended working hours at strategically located branches in Qatar, as well as electronic IPO subscription services utilising its popular eazylife suite of e-channels, which give customers the ability to bank on the move and around the clock.

QNB was the first bank in Qatar to initiate electronic IPO (eIPO) services via the eazylife banking platform which allows customers to complete their subscriptions in minutes over the internet. The service is available 24-hours a day during IPO periods and provides customers with real-time notifications via SMS informing them of subscription status, allotment of shares, and refunds in the case of oversubscription.

As part of the eIPO service, QNB also provides IPO Finance with competitive pricing and instant approval for qualifying registered eIPO customers. In addition,

registered users have the option of subscribing to the IPO on behalf of their family members or legal custodies.

The Bank has in recent years diversified the services offered to customers participating in Qatar’s equity markets by also offering shareholders of companies distributing their dividends through QNB with the ability to receive dividend payments directly into their accounts, as and when distributed by the companies, without having to visit a branch office to cash cheques.