• ADIA plans to sell part of its 10% stake in Ooredoo, targeting USD 500–600 million from the transaction.
• Ooredoo shares rose nearly 24% this year; net profit grew 6% to USD 843 million in nine months.
• Its other major shareholders include Qatar Investment Authority with 53% and Qatar’s General Retirement Authority holding 12.7%.

ADIA

According to Bloomberg, Abu Dhabi Investment Authority (ADIA)  is selling part of its stake in Qatari telecommunications company Ooredoo.  The sovereign wealth fund is planning to raise between USD 500 to USD 600 million through selling part of its stake.

Currently, the ADIA holds a 10% stake worth around USD 1.26 billion in the Qatari telecommunications company. According to Bloomberg’s sources, deliberations are currently ongoing with discussions dependent on market conditions. Thus, the size and timing of any potential deal are still being determined. 

Telecommunications 

This year, Ooredoo’s shares increased almost 24%. Consequently, the company raised its dividend target range last month due to its strong financial position. This is after its 

normalized net profit climbed 6% year-on-year in the first nine months to USD 843 million.

Other major stakeholders in the telecommunication company include Qatar’s sovereign wealth fund, the Qatar Investment Authority which holds around 53%.It also includes Qatar’s General Retirement and Social Insurance Authority, which hold around 12.7%. 

Established in 1976, the Abu Dhabi Investment Authority (ADIA) is Abu Dhabi’s sovereign wealth fund. It invests funds on the behalf of the Government of Abu Dhabi, with a focus on long-term value creation. Furthermore, its portfolio includes more than two dozen asset classes and subcategories. This ranges from equities and fixed income to hedge funds, real estate, private equity and infrastructure.

Bottom line: ADIA is considering selling part of its Ooredoo stake, with timing and size still dependent on market conditions.