Viva to list shares on Kuwait bourse

30 May 2010

(MENAFN) The Chief Executive Officer at Kuwait Telecom Company (Viva), the country?s third and newest telecom firm, said that the company is looking to list on the local stock exchange, Reuters reported.

CEO Najib Al-Awadhi said that the company was working on required procedures to get it listed on Kuwait Stock Exchange. The country’s third mobile operator launched operations in December 2008.

Al-Awadhi said that the company had so far gained around 600,000 clients, accounting for 15 percent of the local market, adding that he was eager to increase that number.

The company, which is 26 percent owned by Saudi Arabia?s incumbent operator STC, competes with Wataniya and Zain in a market with a population of some three million people.

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