Zain Bahrain planning IPO by end-June

February 17, 2014 2:57 am

Zain Bahrain has informed the industry and commerce ministry of its plan to become a public company, moving a step closer to launching a long-awaited initial public offer of its shares, Reuters has reported. The telecom operator missed a 2013 deadline to launch the IPO, but a source last week said the company planned to launch its share sale by the end of June. Under the terms of its licence, Zain Bahrain, which is 56.3%-owned by Kuwait’s Zain, must sell 15% of its shares in an IPO and list on the Bahrain bourse.