Zain Bahrain has extended the subscription period for its initial public offering (IPO) until the end of this month.

The IPO started on September 2 and was initially supposed to close on Tuesday September 16.

The kingdom's second licensed full service telecommunications operator is offering 48,000,000 shares (48 million) equivalent to 15 per cent of issued share capital at a price of 190 fils.

The IPO is open to Bahraini institutional and retail investors as well as GCC institutional investors.