Zain Group raises Bahrain shareholding ahead of IPO

Zain Group has confirmed that it has increased its stake in its operation in Bahrain to 63 per cent, having acquired an additional 6.25 per cent shareholding from minority shareholders that include Vodafone Group, for a total consideration of U$12.5 million. This values Zain Bahrain at US$200 million.

Zain Bahrain is currently undoing a process to list 15 per cent of its shareholding on the Bahrain Bourse and this latest transaction will permit Zain Group to retain majority control of the Bahrain unit upon completion of the stock market listing.