ArabianBusiness.com - Middle East Business News
Friday, 09 January 2009 04:03 UAE time

YOUR DIRECTORY /

Print this page Print this page | Email this to a friend Email this to a friend | Discuss this article (0 Comments) |

Morgan Stanley to manage Etihad Etisalat share sale

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 29 October 2008
CAPITAL INCREASE: Etisalat's Saudi affiliate is selling an additional 200 million shares. (Getty Images)
CAPITAL INCREASE: Etisalat's Saudi affiliate is selling an additional 200 million shares. (Getty Images)

Etihad Etisalat Co., the second- largest mobile-phone service provider in Saudi Arabia, has appointed Morgan Stanley as adviser and underwriter of its share sale, the Saudi Press Agency reported on Tuesday.

Etihad also appointed co-managers to the share sale, including Al-Rajhi Financial Services, Al-Riyadh Financial, Al-Jazira Capital and
Al-Arabi Investment, SPA reported from an agreement-signing ceremony in Riyadh.

Etihad began the sale of 200 million shares to existing stockholders on Oct. 27 as it seeks to raise 2 billion riyals ($530 million). The funds will
help the company increase its capital by 40 percent to 7 billion riyals, the agency said.

advertisement

Print Print | Email Email | Discuss this article |


READERS' COMMENTS


Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code * Code


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST TECHNOLOGY

  1. Qtel signs deal to improve internet services
  2. Repairs completed to undersea internet line
  3. Qtel says Vodafone competition 'good for customers'
  4. At least 50,000 UAE computers 'infected'
  5. Qtel campaign offers free landline connection

TOP MIDDLE EAST BUSINESS STORIES

  1. Kuwait's Global defaults amid global crunch
  2. Dubai World postpones Las Vegas hotel
  3. Moody's downgrades Bahrain bank outlooks
  4. Logistics firm sees 15% rise in business amid global crisis
  5. Gulf region's 2009 growth forecasts slashed

ALSO IN MIDDLE EAST TECHNOLOGY

  1. Monitor market ready to fight the next round
  2. Microsoft officially releases Windows 7 beta
  3. Colado takes reins of EMEA operations at Novell
  4. Macworld Conference 2009
  5. IN PICS: The Gadget Show

LATEST MIDDLE EAST BUSINESS NEWS

  1. Financial Markets: GCC markets suffer 57% fall in 2008
  2. Energy: Saudi reveals oil demand could fall by 45%
  3. Banking & Finance: Kuwait's Global defaults amid global crunch
  4. Construction & Industry: Dubai World postpones Las Vegas hotel
  5. Banking & Finance: Moody's downgrades Bahrain bank outlooks

more » MIDDLE EAST MARKETS DATA

7020.SSE

Last Price:

31.70

-0.20-0.63%

7 Jan 2009 12:29 GMT
(Market Closed)

CURRENCY CONVERTOR

RELATED STORIES

Etihad Etisalat Company
| 15 stories
  1. Mobily buys $21mn stake in internet provider
    3 Nov '08 | News
  2. Etisalat nets $634mn from Mobily sale
    15 Apr '08 | News

 EMAIL ALERTS

  1. Etihad Etisalat Company

  2. Financial Markets



Rich List 2008

MOST POPULAR TECHNOLOGY STORIES

EMIRATES ID DOWNLOAD

READER COMMENTS

  1. The Future of VoIP: Where can it take you? 1
    08 Jan ' 09 at 12:49
    You were aware this column was to be published in the UAE, weren't you? Where VoIP is banned because it would undermine the antiquated...  More »
Read all user comments >

BUSINESS FEATURES

Getting personal

What is a website if you don’t have your very own personalised email, such as email@youraddress.com?

Get a website

Setting up a professional-looking website in a relatively short space of time is usually quite easy.

A penny saved is a penny earned

ACN takes a look at the potential impact of the global financial crisis on the IT budgets in the Middle East.

BUSINESS INTERVIEWS

Leap of faith

Mohamed El-Fatatry ditched his cosseted Dubai lifestyle to move to Finland and launch a Muslim web portal.

Etisalat hears the call for growth

Etisalat is branching out from its core business into the information and communications sector.

Software solutions

IBS’s Deepak Garg on how to keep revenues in synch with your costs, even in times of a global crisis.

MORE FROM ARABIANBUSINESS.COM

JOBS

Jobs

SPECIAL REPORTS

Special Reports

SURVEYS & REPORTS

Research

PROPERTY

property