Zain Bahrain goes for IPO

Zain Bahrain in its capacity as the owner of the telecommunications license will offer fifteen percent of the issued share capital representing 48 million ordinary shares for IPO (initial public offering) for a period of 15 days starting from 2nd September till 16th September.

Zain Group advises all stakeholders that it informed the Kuwait Stock Exchange and the Kuwait Capital Markets Authority.

The offering will be open to retail and institutional investors in the Kingdom of Bahrain and institutional investors in the Gulf Cooperation Council Countries based on the conditions and terms issued in the prospectus. Each share will be offered at a price of 190 fils per share.

In accordance to the Bahraini Law, companies intending to offer shares on Bahrain Bourse must be a Bahraini public joint stock company and needs to submit a request to the Central Bank of Bahrain and Bahrain Bourse to float the ordinary Share for trading on Bahrain Bourse after the end of the subscription date.

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