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Zain IPO attracts 5m investors
- Saudi Arabia: Monday, February 18 - 2008 at 08:29
The initial public offering of Saudi Arabia's third GSM operator Zain oversubscribed by 151% with more than 5.05 million investors purchasing 952 million shares worth SR9.52bn ($2.5bn), reported Arab News. Banque Saudi Fransi, which manages the IPO, said 95% of subscribers used electronic means such as the Internet and ATMs to purchase shares, adding that individual subscribers had bought an average of 188 shares.
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Jeff Florian, Senior ReporterMonday, February 18 - 2008 at 08:29 UAE local time (GMT+4)
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