Mobile operator Viva Kuwait plans to list on the local bourse on 14 December, almost six years after completing its IPO.
Chairman Adel Mohammad al-Roumi said in a statement published by the Kuwaiti state news agency KUNA that Viva has met all technical…
Mobile operator Viva Kuwait plans to list on the local bourse on 14 December, almost six years after completing its IPO.
Chairman Adel Mohammad al-Roumi said in a statement published by the Kuwaiti state news agency KUNA that Viva has met all technical and legal listing requirements, Reuters reported.
The Kuwait Stock Exchange is now consulting with connected parties and taking the steps needed to ensure a smooth listing process, Roumi was quoted as saying. The chairman described the move as an important strategic step for the company but did not provide further details.
Viva, Kuwait’s second-largest mobile operator in terms of subscribers after Zain’s local unit, raised US$93.6m through its IPO in June 2008 and had its commercial launch in December that year.
The operator filed for listing in 2012 and has never disclosed why it has been delayed. However, the global financial crisis’ dramatic impact on Kuwait’s main stock index is considered likely to have been a factor.
In late August, Viva reportedly secured regulatory approval for the listing.
