Saudi mobile firm plans IPO to fund expansion
Link: Saudi mobile firm plans IPO to fund expansion
Itsalat International (i2), the largest mobile phone distribution company in the Middle East and Africa with operations in as many as 23 countries, plans to come out with an initial public offering towards the end of 2008, one of the company’s biggest stakeholders said recently. “We propose to get i2 listed on the Saudi Tadawul Exchange. Saudi Arabia’s Capital Markets Authority will decide on how much of the company could be sold through the IPO,” Dr. Karim Al Solh, chief executive officer of the Abu Dhabi-based regional private equity firm, Gulf Capital, told Gulf News.
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