Saudi Zain IPO to raise USD1.9 billion

23 Nov 2007

Saudi Zain, the Saudi Arabian unit of Kuwait’s Zain Group (formerly MTC), plans to raise USD1.9 billion in an IPO early next year to fund its launch of mobile services in the Kingdom. It will offer 700 million shares, or 40% of the company, within the next two to three months.

Saudi Arabia, Zain Saudi Arabia