Zain Bahrain confirms IPO in September

05 August 2014 | Kavit Majithia


Zain Bahrain is looking to sell off a 15% stake in an IPO of the company and is seeking to raise approximately €18 million.

Zain will launch the IPO early next month, and the company is looking to divest 48 million shares at €0.37 per share, raising approximately BD 9.12 million (€18 million).

Zain will use 95%-98% of the proceeds to increase its network, with plans to utilise the capital to improve indoor coverage and boost the capacity of its mobile network.

It also had wider plans to extend LTE services across the country, increasing speeds to 150Mbps by rolling out a fibre network.

The IPO will run from 2 September to 16 September, it said to the Kuwaiti stock exchange, but did not confirm when the shares will trade in Bahrain.