Dhiraagu to commence selling of shares to the public
17 Oct 2011
Dhiraagu, the first Maldivian telecommunications company has announced to sell shares worth of 11.4 million Maldivian Ruffiya to the public.

In a ceremony held at Dharubaaruga convention center yesterday evening, the chairperson of the company, Juwayriya Saeed said that the shares in Dhiraagu will be open to the public today. She said that the shares will be sold at affordable rates for the general public.

Meanwhile, Dhivehi RaajjeygeGulhun Private Limited (Dhiraagu), was a joint venture company 48% owned by the Government of the Maldives and 52% by Cable and Wireless. The company began operations in 1988 as the national telecommunications carrier of the Maldives.

Further to the announcement made by the Government on 24th August 2011 regarding its intention to reduce its shareholding in Dhiraagu through a local IPO (Initial Public Offering), the company informed that the Company was re-registered as a public limited company (Plc), effective from the 27th September 2011.

The Company will now trade as Dhivehi Raajjeyge Gulhun Plc and will continue to use ‘DHIRAAGU’ as a brand name.

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Aariya Securities Pvt Ltd is a member of the Maldives Stock Exchange.
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