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Investcom launches initial public offering

United Arab Emirates: Sunday, September 25 - 2005 @ 11:24

The key details of the offering are as follows:

• The IPO will be an international offering to institutional investors outside the United States
• The maximum price will be US$12.35 per GDS, each representing 5 ordinary shares
• There will be an offer of 59,995,428 GDSs listed on the LSE, representing 128,548,569 new shares and 171,428,571 existing shares.
• An additional number of GDSs of up to 15% of the offer size and, consistent with market practice, will be made available if the over-allotment option is fully exercised
• The final pricing of the shares is scheduled to take place on or around October 5, 2005
Citigroup is the sole global co-ordinator and Citigroup and HSBC are the joint bookrunners.

At the launch of the transaction, Azmi Mikati, Chief Executive of Investcom, said:“This is a landmark event for our company. Our interim results for the first six months of 2005 were well received last week and we continue to demonstrate sound execution against our targets, both financial and operational.We are very excited about going public and we are looking forward to what we hope will be a successful transaction.“

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Sunday, September 25- 2005 @ 11:24 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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