Investcom plans double IPO

Beirut-based mobile holding company Investcom is planning to list its shares on the Dubai stock exchange at the end of this month, with a flotation on the London Stock Exchange to follow, ‘subject to market conditions’. Investcom oversees mobile operations in Benin, Cyprus, Ghana, Guinea-Bissau, Liberia, Sudan, Syria and Yemen, which between them boast around 2.5 million subscribers. Its net profit for the first half of 2005 increased to USD90.1 million, from USD73.7 million in the corresponding period of 2004.