Zain Bahrain’s Chairman Shaikh Ahmed Bin Ali Abdulla Al Khalifa welcomed the decision of Bahrain’s Cabinet chaired by the Prime Minister HRH Prince Khalifa Bin Salman AL khalifa to prepare the market for an initial public offering (IPO)
“The decision of the Cabinet to allow Zain Bahrain to float an IPO is a sign of the liberalisation of the Bahrain telecoms sector which has led to excellent economic growth and development for the Kingdom,” Shaikh Ahmed, said.
“The telecoms sector has been nurtured by the Telecommunications Regulatory Authority with care and vision so that Bahrain has developed a competitive market that has seen excellent pricing structure and affordable offers for customers and technological development of the sector that has kept it on par with other leading countries.”
“This climate of liberalisation has helped Zain Bahrain to lead the sector with innovation and the latest technology as 4G that will have a dramatic impact for the better on the company’s home broadband and mobile services,” he said.
“The Cabinet decision is also a signal that the time is right for an IPO and the market is ready. The strategy shows that Zain Bahrain shares a common vision and in line with the Kingdom’s Vision 2030,” he said.
“Zain Bahrain has a great contribution for its well-calibrated CSR program that embraces projects as diverse as youth empowerment through education and sports and environmental awareness, Zain Bahrain has also maintained very high HR standards which have seen innovative training programs for staff and an impressive Bahrainisation ratio.”
“I would like to take this opportunity to extend my sincerest thanks to Zain Bahrain’s family, Board members and shareholders for their continue effort and support,” he added.