Nawras wins Corporate Finance Award at ACT Middle East Deals of the Year Awards
Muscat, 5 December 2011 – Nawras, Oman’s customer friendly communications provider is celebrating winning the Corporate Finance Award 2011 for its Initial Public Offering (IPO) at the ACT Middle East Deals of the Year Awards. During the recent award ceremony in Dubai, recognition was given for the work of outstanding corporate treasurers and their teams who are dedicated to ensuring that their company maximises its chances of success.
“Nawras has always adopted a pleasingly different approach and the IPO continued this tradition,” said Nawras Chief Financial Officer, Jorgen Latte. He continued, “One of the most important points learnt from the IPO was never to underestimate the need for public information, especially in the retail market. Nawras was first in Oman to introduce the book build process and we devoted a lot of time to ensuring that this was communicated clearly both in Arabic and English languages through various mediums.”
Nawras Treasury Controller, Ali Abdul Sahib Al-Moosa, attended the event and collected the award in recognition of the successful execution and result of the company’s Initial Public Offering (IPO). Nawras IPO was the largest in the Sultanate of Oman since 2005 and the largest to take place in the GCC since 2009.
During the award assessment process, the judging panel of treasurers and advisers working in the Middle East brought their treasury, corporate finance and banking experience combined with in depth knowledge of the different aspects of the markets in the region. From organisations including Agility, Etihad, KPMG, Rothschilds, and ACT, they looked for sound treasury management, efficient pricing, optimal or innovative structures and relative success in prevailing market conditions.
Matthew, Hurn, Executive Director, Mubadala Development Corporation, and Chairman ACT Middle East, said, “The ACTME is delighted to congratulate all the winners of these awards which recognise the work of some outstanding treasurers and their teams in circumstances which have been difficult for a number of years. This is the third year of these awards and they have grown in significance and stature each of those years. We look forward to recognising the growing influence of treasurers and the ACTME in coming years.”
These highly regarded awards recognise companies and individuals that have shown innovation and excellence in corporate treasury over the last 12 months. Awards were given for the Bond, Loan and Corporate Finance deal of the year plus the Treasury Team of the Year. The event was attended by corporate treasurers and finance managers from companies and organisations across the GCC, as well as guests and representatives of the ACT Middle East.
About Nawras:
Omani Qatari Telecommunications Company SAOG was founded and registered in the Sultanate of Oman in December 2004. It launched its service in March 2005 as the challenger mobile operator in Oman operating under the name Nawras. Nawras was awarded the second fixed licence in Oman in 2009, and launched its international gateway in April 2010, its corporate fixed and broadband services in May 2010, and its residential fixed and broadband services in June 2010. Since 2010 Nawras has been an integrated services telecommunications operator and is currently serving around 2 million customers across the Sultanate. Following a successful IPO, Nawras is listed on the Muscat Stock Market (MSM) under the “nwrs” ticker since 1 November 2010. Nawras is majority owned by the Qtel Group, a leading global telecommunications group, with a presence in 17 markets and a customer base of more than 77 million. Nawras also has a number of significant Omani shareholders which ensures that the company is strongly integrated into the Omani society. Nawras has won a number of awards including Innovation in HR Strategy 2011 from Asia’s Best Employer Brand Awards, Outstanding Leader from TMT Finance Middle East 2011, Best IPO in the Middle East from emeafinance magazine and Strategic Leadership Award from Global HR Excellence Awards 2011.
About the Qtel Group
The Qtel Group provides a full range of telecommunications services in Qatar and across its presence in 17 countries. Our vision is to be among the top 20 telecommunications companies in the world by 2020 through expansion in both the MENA region and South East Asia.
For further information please contact:
Julie Amann, Press Manager
e-mail: julie.amann@nawras.om
+968 9510 3669
About ACT Middle East
ACT Middle East is the network for treasury, risk and finance professionals committed to the development and sharing of treasury knowledge and expertise across the Middle East. It provides networking opportunities for those in or interfacing with treasury, enabling them to come together to discuss best practice and providing continuous professional development through treasury training and professional qualifications.
http://www.treasurers.org/actmiddleeast
