Key Developments: Mobile Telecommunications Co KSC (ZAIN.KW)

ZAIN.KW on Kuwait Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Mobile Telecommunications Co KSC subsidiary to offer 48 million shares as IPO
Monday, 4 Aug 2014 02:42am EDT 

Mobile Telecommunications Co KSC:Announces that its subsidiary, Zain Bahrain BSCC, is offering 48 million shares as IPO at 0.190 Bahrain dinars per share, representing 15 percent of the company's issued share capital, for the period of 15 days starting from Sept. 2 until Sept. 16.  Full Article

Mobile Telecommunications Co KSC acquires 6.25 percent stakes in Zain Bahrain BSCC
Wednesday, 7 May 2014 06:38am EDT 

Mobile Telecommunications Co KSC:Acquires 6.25 pct stake in Zain Bahrain BSCC's share capital, for a total value of $12.5 million.Says after this acquisition, the total company's stakes in Zain Bahrain BSCC's share capital increased to 63 pct.  Full Article

Mobile Telecommunications Co KSC says sued for $4.5 billion over Iraq telecom buy
Saturday, 19 Apr 2014 08:00pm EDT 

Mobile Telecommunications Co KSC:Says is being sued for $4.5 billion over its 2007 acquisition of an Iraqi telecom operator.Says it bought Iraqna for $1.2 billion from Orascom Telecom in Dec. 2007 after the Egyptian firm dropped out of the running for a long-term mobile license in Iraq. The company then merged its Iraqi unit, Atheer, with Iraqna and renamed the entity Zain Iraq.Says that a company declined to identify filed a lawsuit last Aug. This claims the company's takeover had stopped the firm buying Iraqna, causing it losses of $4.5 billion.Announces that an anonymous company is also suing the company, Iraq's telecom regulator, and the Communications and Media Commission, jointly for a further $1 billion.  Full Article

Mobile Telecommunications Co KSC signs $ 800 million credit loan facility
Tuesday, 4 Mar 2014 12:42am EST 

Mobile Telecommunications Co KSC:Says that it has signed an agreement with regional and international banks to obtain a five-year credit facility loan of $ 800 million, which will be used for the company's operations.  Full Article

Mobile Telecommunications Co KSC announces cash distribution date for FY 2013
Saturday, 22 Feb 2014 07:00pm EST 

Mobile Telecommunications Co KSC:Says that the cash dividends of 0.050 Kuwaiti dinar per share for the fiscal year ending Dec. 31, 2013 will be distributed on March 10. Beneficiaries of the dividends are the company's shareholders who are registered on the general assembly meeting, which was held on Feb. 20.  Full Article

Mobile Telecommunications Co KSC recommends 50 percent cash dividends for FY 2013
Tuesday, 28 Jan 2014 12:30am EST 

Mobile Telecommunications Co KSC:Says that its board of directors has recommended the distribution of 50 percent cash dividends 0.050 Kuwaiti dinar per share, for the fiscal year ending Dec. 31, 2013.  Full Article

Mobile Telecommunications Co KSC Announces Final Verdict in Lawsuit Filed By Undersecretary of Kuwait Ministry of Finance
Monday, 30 Sep 2013 06:45am EDT 

Mobile Telecommunications Co KSC announced that the Chamber of Advice has refused the Undersecretary of Kuwait Ministry of Finance appeal and has issued a final verdict in favor of the Company.  Full Article

Mobile Telecommunications Co KSC to Establish a New Holding Company in Iraq; to Offer IPO
Tuesday, 4 Jun 2013 01:22am EDT 

Mobile Telecommunications Co KSC announced that it will establish a new Iraqi holding company under the name of “Al Khatam Communications”, to legally hold the assets of Zain Iraq ahead of an initial public offering . Consequently, the Company’s unit, Zain Iraq, will offer 55.9 million shares at IQD 1 each in the holding company for an offer period starting on June 4 and running for 30 days. Once the process is completed, the new holding company will get the necessary approvals to commence the initial public offering.  Full Article

Mobile Telecommunications Co KSC Signs USD 700 Million Credit Facility Loan
Thursday, 25 Apr 2013 01:54am EDT 

Mobile Telecommunications Co KSC announced that it has signed with regional and international banks to obtain a three-year credit facility loan of USD 700 million, which will be used for short and medium term operations in the Middle East markets.  Full Article

Mobile Telecommunications Co KSC Announces Cash Distribution Date for FY 2012
Monday, 8 Apr 2013 02:38am EDT 

Mobile Telecommunications Co KSC announced that the cash dividends of KWD 0.050 per share for the fiscal year ending December 31, 2012 will be distributed on April 15, 2013. Beneficiaries of the dividends are the Company's shareholders who are registered on the General Assembly Meeting, which was held on April 7, 2013.  Full Article

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