The telecoms provider Zain Bahrain said that it would issue its initial public offering in the country next month.
Aimed at raising
In its IPO, Zain Bahrain is offering 48 million shares, or 15 per cent of the company, at 0.19 Bahraini dinars (Dh1.85) per share. The offering will open on
Bahraini institutional and retail investors, along with institutional investors from rest of the Arabian Gulf region, can subscribe.
"The capital expenditure is aimed at upgrading network infrastructure to improve indoor coverage, expanding capacity to meet high bandwidth demands, and introducing smart features for smartphones," wrote the investment bank
The investment banking units of
While low liquidity in the Bahraini bourse is something all companies have to deal with, it will eventually move up if more IPOs are listed at the correct valuation and more companies are listed, said an analyst who declined to be named.
"[Zain Bahrain's] is not a very big IPO; at less than 10 million Bahraini dinars being raised it is not significant at the
He said he expected another IPO in the bourse in the next 12 months, declining to give further details.
"It is important that the companies do well post-IPOs to encourage more companies to list and investors to invest," he said.
The overall telecoms market in
In the first six months, Zain's net income declined 16.8 per cent to
"There is not much growth [in the telecoms sector in
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