MTC Prepares For London Flotation

July 2007 | Company Finance Alert

Kuwaiti telecoms group MTC is on the verge of announcing an initial public offering (IPO) on the London Stock Exchange, according to media reports. The group's chief executive, Saad al-Barrak, is expected to announce the move on July 2, during a visit to the UK capital. The group will float its international business, MTCI, which is currently held privately (MTC itself is already listed on the Kuwait stock exchange). The flotation is expected to raise around GBP2bn for the Kuwaiti group, which has made overseas expansion a top priority.

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