At a time when the telecom market in Maldives was dominated by a monopoly player, and Maldivians had to purchase a single Sim card at MVR 500, Ooredoo came in as an answer to the prayer of numerous Maldivians.
Fisherman’s and travelers alike had to use landlines or pay phones using expensive data cards at the time, if and when they got to the dry land. There was no easy way to contact your loved one. While the world was already basking in the glory of digital innovation, Maldives was stopped at it heels with very low network coverage and incredibly high digital cost.
With Ooredoos’ entry in August 2005, formerly known as Wataniya, history was made.
Digital technology suddenly became affordable and available at your fingertips. They revolutionized the very essence of digital technology by introducing cutting edge innovation to Maldives. In time, taking a sim as opposed to a landline became the new trend and pay phones became a thing of the past.
Ooredoo Maldives announced their initial public offering (IPO) of 40% total share at the price of MVR 30 per share. The minimum share purchase percentage is 15%, which amounts to 22.17 million ordinary shares. Investors are invited to subscribe online via Ooredoo’s website and via Ooredoo centers throughout Maldives.
So since such an offer is rare in Maldives, why is there a need to invest in these shares specifically?
Purchasing shares is a good way to earn money while staying at home. While financial calculations are indeed crucial, it is important to look at the company you are investing. Their integrity and commitment to you as a member of its stakeholder family.
Why you should be a part of Ooredoo's growth journey!
• The most obvious reason, they made digital technology affordable even to the middle class person.
• Life changing telecom revolution to Maldivians by enhancing digital growth in our lives.
• Consistently thrives to stay on edge of technology.
• State of the art Network system.
• Connected their underwater submarine cables throughout the Maldives from Addu to Haa Alif emanating the light of technology to every land, beach and vessel.
• There isn’t a location where you can’t reach your loved ones.
• Brought technology to our finger tips from mobile to fixed internet.
• Contributed to our economic growth via diverse programs of CSR such as the donation of sea ambulances to Red Crescent and setting up IT incubators across the country.
• Constantly implementing broad changes for the growth of our community by innovation on health care, youth development and education.
• Brought mobile money to Maldives and cash to our fingertips.
• Made Sims affordable to the 1.25 million tourists that visit Maldives, making their stay stress-free.
• A group of dedicated and trustworthy team committed to providing invaluable customer care.
• A highly experienced management team committed to deliver to your exact needs and wants.
Now moving onto financial Jargon
No doubt, they can boast great numbers. The company has seen a stable and significant annual growth in revenue and profits. The good news is, according to the valuation report produced by NDB Investment Bank Limited, Srilanka (NDBIB), the future looks even more promising.
NDBIB forecasted for a period of 5 years starting from 1st January 2017, and their forecast assumptions were evaluated on the macro economic outlook and the telecommunications and ICT sectors of Maldives. This is a good sign for those of us looking to invest.
The below tables has been compiled according to the valuation report by NDBIB
The net earnings has been increasing, and is predicted to grow in the future, which is a good sign. Moreover, the total leverage, more commonly known as debt has also decreased. This is an indication that Ooredoo is able to generate profit over its expenditures.
Moreover, since Asset Turnover is predicted to increase, this is a clear indication that the efficiency of the company in utilizing its resources has increased as they are able to generate relatively profitable sales using their assets, which shows that the resources are managed well to generate revenue.
In addition, the decreasing leverage means the level of debt in relation to shareholders equity will be significantly lower, which is once again a good sign that the company does not need to borrow money to obtain assets that are used to generate revenue.
Concluding, Investing is a splendid way to earn money without working. All you need to do is evaluate the firm’s financial status and analyze your return on investment.
Ooredoo, which will celebrate its 12th year in Maldives, has experienced astonishing growth. Maldivians and foreigners alike have benefited greatly from this establishment. Despite its challenges arising from being a foreign company, they have brought innovation, affordability and development to our small community.
To Maldivians who have learned to live on the brink of technology, innovation is a must. So why not invest in a future that will pay back to you in multiple times.