Zain Bahrain’s IPO to be floated by end of June
Zain Bahrain is set to launch its long-awaited stock market flotation by the end of June, in what could be the kingdom’s biggest share sale since 2010, Reuters has reported, citing an industry source. Few details relating to the IPO have been made public, although Zain’s chief executive said in December his company wanted to keep majority control. Zain Bahrain made a net profit of $14.3m in 2013, down 15.7% from a year earlier. Revenue rose 5.5% to $213 million and its customer base increased 25% over the same period.