ADIA to Unload Half Stake in Ooredoo for Up to $572 Million

Abu Dhabi's ADIA to Sell Half Its Stake in Qatari Telecom Firm Abu Dhabi Investment Authority (ADIA) has moved to sell a 5% stake in Ooredoo QPSC, a Qatari telecom firm, through a secondary share sale that could raise up to $572 million. The wealth fund is offering about 161 million shares, or half its stake, at 12.4 riyals ($3.4) to 13 riyals apiece, according to deal terms seen by Bloomberg News. The sale represents a significant financial transaction, with the potential to raise $572 million, based on the upper end of the price range. This amount is substantial, considering that ADIA's stake in Ooredoo QPSC is valued at approximately $1.14 billion, based on the company's current market capitalization of around $22.8 billion. The sale is expected to be completed through a book-building process, with books covered within minutes of opening on Tuesday, according to deal terms. The sale is likely to have a negative impact on Ooredoo QPSC's stock price, as the news sent the Qatari telecom firm's shares lower. The company's stock price has been under pressure in recent months, due to increased competition in the Qatari telecom market and declining revenue. Ooredoo QPSC's stock price has fallen by around 20% in the past year, compared to a 10% decline in the Qatar Stock Exchange's benchmark index. Ooredoo QPSC is one of the largest telecom firms in Qatar, with a market share of around 40%. The company operates a network of over 10 million subscribers, and provides a range of services, including mobile, fixed-line, and broadband internet. ADIA's stake in Ooredoo QPSC was acquired in 2011, as part of a $12 billion investment in the Qatari telecom firm. The sale of ADIA's stake in Ooredoo QPSC is likely to have implications for the Qatari telecom market, as it could lead to increased competition for the remaining shareholders. The sale may also attract the attention of other investors, who may be interested in acquiring a stake in the Qatari telecom firm. However, the sale is also likely to be seen as a positive development for Ooredoo QPSC, as it could lead to improved governance and increased transparency, following the departure of ADIA's stake. In conclusion, the sale of ADIA's stake in Ooredoo QPSC is a significant financial transaction, with the potential to raise $572 million. The sale is likely to have a negative impact on Ooredoo QPSC's stock price, but may also lead to improved governance and increased transparency for the Qatari telecom firm. The sale is a reflection of the changing dynamics of the Qatari telecom market, and is likely to have implications for the remaining shareholders and investors in the industry.