Egypt’s mobile phone operator, Click GSM Vodafone, said it plans to make an initial public offering (IPO) in the second half of this year. A Click spokesman stressed that the firm, 60 percent owned by Vodafone, is still at the stage of appointing investment banking advisers, and that the final decision on the timing and size of an IPO has not been taken.
The timing will be determined in light of the company’s results, which will be announced in March and will help to decide the issue price. He added that the firm is studying ways to develop new and existing services, especially following an increase in subscribers in its mobile phone network to one million.
Click has gained ground on subscriber numbers versus its competitor, Egyptian Company for
Mobile Services (MobiNil), despite entering the market later. Click's market share was an estimated 36 percent in June 1999 and 45 percent in December 2000. — (Lebanon Invest)
© 2001 Mena Report (www.menareport.com)
