Vodafone Qatar has raised nearly $1 billion from its initial public offering (IPO) on the Doha Stock Exchange.

Vodafone Qatar has raised nearly $1 billion from its initial public offering (IPO) on the Doha Stock Exchange. Earlier, in April, the service provider raised $952 million by listing 40 per cent of its shares. Vodafone has a 22.95 per cent stake in Vodafone Qatar, while Qatar’s government holds a 37.05 per cent stake through the Qatar Foundation and other state-backed companies.

Vodafone Qatar’s IPO performance is especially commendable given the state of the Middle Eastern IPO market, which fell 87 per cent in the first six months of 2009.