Kuwaiti mobile operator Viva has reportedly won regulatory approval to list on the local stock exchange, almost six years after completing its IPO.
Saudi Telecom (STC), which has a 26% stake in Viva and controls its financial and operational policies,…
Kuwaiti mobile operator Viva has reportedly won regulatory approval to list on the local stock exchange, almost six years after completing its IPO.
Saudi Telecom (STC), which has a 26% stake in Viva and controls its financial and operational policies, made the announcement in a market filing which did not specify when the listing will take place, Reuters reported.
Viva 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.
Viva is Kuwait’s second-largest mobile operator in terms of subscribers with a 33% market share, according to Zain’s latest financial report. Zain Kuwait is the largest player with a 36% share, while smallest operator Ooredoo has a 31% share.
Neither Viva nor STC was immediately available for comment.