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The Government of Maldives launches Dhiraagu IPO Prospectus

4 October 2011

Today marks a significant milestone in the history of Dhiraagu as the Government of Maldives initiates the process of Initial Public Offering (IPO) by launching the Dhiraagu IPO prospectus.

Dhiraagu IPO launching ceremony was held at Dharubaaruge, Rannabandeyri Maalam, which was attended by Guest of Honour, His Excellency the President Mohamed Nasheed, Cabinet Ministers, members of Dhiraagu Board, Government officials, customers, the management of Dhiraagu and the media.

At the ceremony His Excellency the President Mohamed Nasheed launched the Dhiraagu IPO Prospectus. Through this IPO, Government makes an invitation in respect of 11,400,000 ordinary shares having a nominal value of 2.50 Rufiyaa each at the offer price of 80 Rufiyaa per share, which is a part of the Government's shareholding. The subscription period will open on 25th October 2011 and will close on 30th November 2011.

The announcement by the Government to offer a part of its shareholding in Dhiraagu to the general public through an IPO, was made on 24th August 2011. Dhiraagu has been listed on the Maldives Stock Exchange on 4th October 2011.

Speaking at the launching ceremony, the Chairperson of Dhiraagu, Ms Juwairiya Saeed, said, "This is a momentous occasion for Dhiraagu, this is the first time the public has the opportunity to have share ownership of Dhiraagu, which is one of the most successful companies in the Maldives".

Dhiraagu is a full telecommunications service provider offering mobile, internet and fixed line services. With 23 years of excellence and a proven track record of success, Dhiraagu is one of the leading brands in the country.


Media contact for information
Mohamed Mirshan Hassan
Manager Marketing Communications and Public Relations
Phone: 3311336
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