Zain Bahrain announces IPO

Company to price shares at 0.19 dinars
IPO, Zain bahrain, Zain Group


 Zain Group has announced an initial public offering (IPO) of Zain Bahrain that will take place in September. The period for subscription will be from September 2 to September 16. The company stated that the shares will be priced at 0.19 dinars ($0.50) each. The listing is expected to raise over $24 million.

Zain Bahrain will offer 15% of the issued share capital, representing 48 million ordinary shares. The money raised from the offering will be used mainly to upgrade its network infrastructure and to expand its 4G LTE network in the country, the company said.

According to the Bahraini Law, companies intending to offer shares on Bahrain Bourse must be a Bahraini Public Joint Stock Company.

The offering is open to retail investors in Bahrain as well as institutional investors in the Gulf region.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story