Zain says Bahraini unit IPO to start Sept 2, price at 0.19 dinars/shr

August 4, 2014

DUBAI, Aug 4 (Reuters) – Kuwait-based telecommunications provider Zain said on Monday it would sell 15 percent of its Bahraini unit to the public in an initial share sale on the kingdom’s stock exchange.

Shares would be priced at 0.19 dinars ($0.50) per share and would be available to retail investors in Bahrain as well as institutional investors in the Gulf region, Zain said in a stock market filing on Kuwait’s bourse.

The subscription period for the initial public offering would run from September 2 to September 16, the statement added. ($1 = 0.3770 Bahraini Dinars) (Reporting by Noura Al Sharif; Writing by David French; Editing by Praveen Menon)

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