Zain Hires Team to Lead IPO

By John Lee.

Mobile operator Zain has hired Melak Investments and Rabee Securities as the leading adviser and broker to lead the initial public offering (IPO) of its shares.

According to a report from The National, Melak Investments is run by the Iraq-born former Franklin Templeton asset manager Shwan Taha, who also founded Rabee Securities.

Last year’s IPO of rival Asiacell, which was also led by Melak Investments, doubled the bourse’s market capitalisation from $4.6bn to $9.2bn.

(Source: The National)

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