Saudi operator receives green light for share issue

21 Dec 2011

Etihad Atheeb Telecom has received regulatory approval to launch a share issue worth USD310 million, paving the way for the company to resume trading on the Saudia Arabian stock exchange. The operator, which is 15%-owned by Batelco of Bahrain and which provides services under the Go Telecom brand, will hold an extraordinary shareholder meeting to decide at what price to sell the new shares, with the rights issue restricted to existing shareholders. Trading in the company was suspended in May after it posted significant losses.

Saudi Arabia, Etihad Atheeb (GO Telecom)