The new telecom company in the process of being established in the UAE has revealed that will not offer a portion of its capital in an IPO within the year.
The company, which has paid up capital of Dh4 billion, according to reports in Khaleej Times, is jointly owned by the Pensions Authority and Dubai Technology, Electronic Commerce and Media Free Zone(TECOM), as well as the government.
Representatives of the firm reportedly concluded that they would not be issuing a portion of its shares for a number of years before it become operational and begins provide consumer services.
