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CABINET APPROVES SHARES OFFER

Zain Bahrain to offer 15pc stake in IPO

Manama, April 8, 2013

Zain Bahrain, a leading telecom operator, will be forced to offer 15 per cent of its shares through initial public offering (IPO), a report said.

The move was approved by the Cabinet yesterday following six postponements on the issue by the Telecommunications Regulatory Authority (TRA), according to the report in our sister publication, the Gulf Daily News.

However, HRH Prime Minister Prince Khalifa bin Salman Al Khalifa yesterday directed Minister of State for Telecommunications Affairs Shaikh Fawaz bin Mohammed Al Khalifa to come up with necessary arrangements.

Minister of State for Information Affairs and the government's official spokesperson Sameera Rajab said the delays were due to special circumstances the country was going through and that the IPO decision was final. – TradeArabia News Service




Tags: IPO | Bahrain | TRA | Cabinet | Shares | Zain |

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