An official at the Ministry of Commerce has stated that Kuwait could launch the anticipated IPO for the 3rd mobile operator as early as June. The overly optimistic remark also claimed that the firm may be operating as early as October. The 3rd telecommunications company in Kuwait had initially scheduled its IPO for February, later it was rescheduled with no date set.
“If all went as planned there is a possibility that the IPO will be before the end of June,”
- Daoud al-Sabej, Ministry of Commerce and Industry
Company ownership will be as follows:
- 24% owned by the government
- 50% will be offered to the public
- 26% already sold to Saudi Telecom (for KD 248.7 million)
= IPO in august …… this is kuwait afterall.