SITC
7050
7050
The Kuwaiti Capital Markets Authority (CMA) approved on Thursday the listing of Kuwait Telecom Co. (VIVA), 26%-owned subsidiary of Saudi Telecom Co. (STC).
The listing date will be announced later. Officials sources told Al-Anbaa gazette the share listing will be next month or by December at most.
The company came on stream in December, 2008. It was not listed on Kuwait Stock Exchange (KSE) due to accumulated losses in the first years of operation. However, the company posted profit in the last two years, which seems to be the reason behind CMA’s on the share listing.
VIVA had posted KWD 24 million net profit for FY13, with nearly five-fold growth compared with KWD 4 million in FY12.
The listing date will be announced later. Officials sources told Al-Anbaa gazette the share listing will be next month or by December at most.
The company came on stream in December, 2008. It was not listed on Kuwait Stock Exchange (KSE) due to accumulated losses in the first years of operation. However, the company posted profit in the last two years, which seems to be the reason behind CMA’s on the share listing.
VIVA had posted KWD 24 million net profit for FY13, with nearly five-fold growth compared with KWD 4 million in FY12.
Source:
Mubasher
