DUBAI May 18 Middle Eastern pay-television
operator OSN has "no current plans" for a stock market
flotation, its chief executive said on Sunday, following
comments from its parent company that an initial share sale was
expected to happen this year.
"The shareholders are looking at the options that they have
for the future and one of those is to approach the equity
markets. But, as it stands today, we have no active plans or
timetable," David Butorac, OSN's CEO, told reporters at a
company event in Dubai.
The deputy chairman of Kuwait Projects Co (KIPCO),
Faisal al-Ayyar, said in March that it planned to start the
process for an initial public offering (IPO) of shares "within
weeks", with London targeted for a flotation by the end of 2014.
KIPCO owns 60.5 percent of OSN.
(Reporting by Matt Smith; Writing by David French; Editing by