DUBAI, May 18 (Reuters) - 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 Elaine Hardcastle)