Oger Telecom Revokes Decision Over IPO

Dubai-based company Oger Telecom has pulled its US$1.25bn initial public offering on both the London and Dubai Stock Exchanges following concerns by the operator over "increasingly challenging and volatile regional market conditions." The move made by Oger Telecom, which saw investor demand for its shares and global depository receipts (GDRs) amount to 1.5 times more than it had sought to raise, led to protectionist measures over its investors. Its investors are largely made up of companies with ties to its parent construction company Saudi Oger. Aside from the former Lebanese prime minister Rafiq Hariri, whose family are one of the

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