Zain Saudi's US$1.6 billion rights issue, which closes today, has so far sold only 54 percent of shares available, reports Reuters, leaving shareholder Zain and the underwriting banks liable to make up the remainder. According to the report, this could potentially lift the Kuwait-based operator group’s shareholding in Saudi Arabia's number-three operator to above 50 percent from 25 percent at present, forcing the firm to consolidate loss-making Zain Saudi's earnings onto its balance sheet.
Recommended for You
Be the first to know.
Subscribe to our newsletter today.
You'll gain exclusive access to breaking news, expert analysis, and in-depth features delivered right to your inbox.
Comments