Zain Bahrain has listed on the Bahrain Bourse under the trading symbol 'ZAINBH' following the signing of an agreement.

Shares of the company will be traded in the initial public offering (IPO) market for six months and will be transferred at a later stage to the regular market to be traded under the services sector, it was announced.

The listing agreement was signed by Bahrain Bourse chairman Yousuf Abdulla Humood and Zain Bahrain chairman Shaikh Ahmed bin Ali Al Khalifa, said a report in the Gulf Daily News (GDN), our sister publication.

Shaikh Ahmed said the listing would help in widening the shareholders and investors base for the company as well as provide more investment alternatives for investors in the bourse.

“Zain Bahrain is a prime example in the telecommunication industry as it has developed into a full-spectrum service provider offering services and technologies for both consumers and enterprises,” he added.

With this listing, the total number of companies on Bahrain Bourse has gone up to 48, of which 43 are Bahraini and five are foreign.

In October this year, Zain Bahrain completed an IPO, where 48 million shares representing 15 per cent of the company's paid-up capital were offered at a price of 190 fils.

This was Bahrain's first initial public offering since 2010. - TradeArabia News Service