Zain - Saudi Arabia

In less than eight months, mobile telecommunications operator Zain has made its mark in Saudi Arabia by securing more than two million customers, or seven percent market share. The company has also reported a 27 percent increase in projected revenues for the same period – not bad considering the operation was launched only months prior to the global markets meltdown.

From August 26 to December 31 2008, the company generated $135m gross revenues with $608m net losses, after factoring in 18 months of start up and operating costs. Still, with a healthy customer base, it appears Zain will have few problems clawing back its outlays.

When announcing the company’s KSA results in February, Zain Group chief executive Dr Saad Al Barrak said he was confident the Saudi market was stronger than most to withstand the global downturn. “With the robustness of the Saudi Arabian economy playing a decisive role, we are very confident that Zain Saudi Arabia will be a shining star among the Zain group of companies and we expect that the huge investments in the brand and network to date will see even better results for 2009 and beyond,” he said.
More about the company
Address: Arcade Centre, King Fahad Highway PO Box 295814 , Riyadh, SAUDI ARABIA

Mobile Telecommunications Company

Joint stock

2007

Public

966 1 2161800

966 1 2161500

info@sa.zain.com

www.sa.zain.com

Related articles

Zain Saudi says losses narrow during Q1

Zain Saudi says losses narrow during Q1

Wednesday, 16 April 2014 1:52 PM

Telecom operator cuts costs and sees revenue from data surge during three months to March 31

Saudi regulator to re-tender piggyback mobile licence

Saudi regulator to re-tender piggyback mobile licence

Wednesday, 9 April 2014 4:27 PM

Telecom watchdog announces move nearly a year after naming Dubai's Axiom as provisional winner

Zain Saudi appoints new chairman

Zain Saudi appoints new chairman

Monday, 10 March 2014 5:59 PM

Telecom operator says former chairman has resigned for personal reasons

Zain Saudi's Q4 losses widen amid expats exodus

Zain Saudi's Q4 losses widen amid expats exodus

Monday, 20 January 2014 6:39 PM

Telco blames worsening performance on crackdown on illegal workers, drop in religious pilgrims

Telco Zain Saudi says losses narrowed in Q3

Telco Zain Saudi says losses narrowed in Q3

Sunday, 27 October 2013 7:37 PM

Gulf kingdom's third largest telco makes $112m loss in the three months to September 30

Telco Zain Saudi extends life on $3bn of loans

Telco Zain Saudi extends life on $3bn of loans

Tuesday, 30 April 2013 8:39 PM

Loss-making telecoms operator will use the extension to conclude negotiations with lenders over long-term financing agreement

Zain pays Motorola $231.4m on behalf of Saudi unit

Zain pays Motorola $231.4m on behalf of Saudi unit

Sunday, 16 December 2012 11:54 AM

Kuwaiti telco will pay US firm cash to cover costs of contract entered by Saudi unit

Zain Saudi to start $1.6bn rights issue

Zain Saudi to start $1.6bn rights issue

Sunday, 8 July 2012 11:08 AM

Kingdom’s third telecom operator is offering 600 million shares firm says in bourse filing

Zain Saudi Arabia in talks to refinance $2.5bn loan

Zain Saudi Arabia in talks to refinance $2.5bn loan

Tuesday, 28 February 2012 7:42 PM

Kingdom's third largest telco said to be in discussions with lenders over Islamic loan

Zain Saudi Arabia posts lower Q2 net loss

Zain Saudi Arabia posts lower Q2 net loss

Sunday, 17 July 2011 6:17 PM

Telecoms company, 25% owned by Kuwait's Zain, says it lost $119m in the second quarter of year

Zain Saudi Q1 net loss narrows but misses forecasts

Zain Saudi Q1 net loss narrows but misses forecasts

Tuesday, 19 April 2011 12:16 PM

The telecoms operator, which is 25% owned by Kuwait's Zain, posts first quarter net loss of $141.9m

Zain Saudi signs $600m two-year refinancing deal

Zain Saudi signs $600m two-year refinancing deal

Tuesday, 12 April 2011 11:50 AM

Mobile operator signs deals to meet its previous obligations and finance a number of the firm's capital projects

Kingdom, Batelco to start Zain deal due diligence

Kingdom, Batelco to start Zain deal due diligence

Saturday, 9 April 2011 10:23 AM

Move comes after Kuwaiti telco signs term sheet agreement to sell its stake in Zain Saudi Arabia

Kuwait's Zain signs term sheet for Saudi stake sale

Kuwait's Zain signs term sheet for Saudi stake sale

Thursday, 7 April 2011 6:30 PM

Kuwaiti telco signs deal with Kingdom Holding and Batelco on the terms previously set by Zain

Lower priced for sale sign hangs over Kuwait's Zain

Lower priced for sale sign hangs over Kuwait's Zain

Monday, 21 March 2011 12:15 PM

Zain still seen for sale, but price likely to be lower; new bidders unlikely to qualify for record dividend

Zain may sign Saudi ops stake sale next week

Zain may sign Saudi ops stake sale next week

Sunday, 20 March 2011 5:10 PM

Preliminary agreement will make all sides liable to pay undisclosed break fee if they back out of deal

Kingdom, Batelco accept Zain's terms for Saudi stake

Kingdom, Batelco accept Zain's terms for Saudi stake

Wednesday, 16 March 2011 11:36 AM

Zain says Kingdom, Batelco to pay $950m; additional $250m to be paid by Zain Saudi

Kingdom says Zain Saudi offer doesn’t guarantee existing debt

Kingdom says Zain Saudi offer doesn’t guarantee existing debt

Tuesday, 15 March 2011 12:38 PM

Kingdom will determine the percentage of ownership in Zain Saudi after the due diligence has been completed and approval by all parties

Alwaleed offer may pave way for Etisalat's $12bn Zain bid

Alwaleed offer may pave way for Etisalat's $12bn Zain bid

Monday, 14 March 2011 3:56 PM

If completed, deal will extend Etisalat’s reach in the Mid-East, where Zain operates in nations including Kuwait and Iraq

Zain board approves $5bn offer by Kingdom, Batelco - sources

Zain board approves $5bn offer by Kingdom, Batelco - sources

Sunday, 13 March 2011 3:18 PM

UPDATED: Bid to acquire 25% of Zain Saudi Arabia is reportedly accepted with a vote of five to two


Related searches

Zain Saudi Arabia in talks to refinance $2.5bn loan

Tuesday, 28 February 2012 7:42 PM

Kingdom's third largest telco said to be in discussions with lenders over Islamic loan

Zain Saudi Arabia due diligence to close by end of Sept

Saturday, 10 September 2011 11:56 AM

Kingdom Holding sees deal to complete move for telco as soon as 'outstanding conditions' are met

Zain Saudi Arabia posts lower Q2 net loss

Sunday, 17 July 2011 6:17 PM

Telecoms company, 25% owned by Kuwait's Zain, says it lost $119m in the second quarter of year

Batelco CEO studies plan for Zain Saudi Arabia stake

Tuesday, 5 October 2010 1:09 PM

Talks are taking place parallel to negotiations for Etisalat to purchase a majority stake in Kuwait's Zain

Gulf stock movers: Emaar, Zain and Saudi Arabia

Tuesday, 28 September 2010 4:28 AM

Emaar properties declined the most since Sept 22, retreating 1.8% to 3.28 dirhams.

Zain Saudi Arabia proposes to reduce capital

Saturday, 21 August 2010 1:10 PM

Zain Saudi Arabia is seeking to reduce share capital by 48% and raise capital by 60%

'Zain Saudi Arabia faces no funding problems' - CEO

Thursday, 22 April 2010 2:16 AM

Company is in talks with creditors after missing some commitments on a $2.5bn Islamic loan.

Zain Saudi Arabia posts Q1 loss of $177m

Tuesday, 20 April 2010 10:22 AM

UPDATE 1: Telecom firm assures investors it is able to meet obligations.

Zain Saudi Arabia reports $175.2m Q4 net loss

Tuesday, 19 January 2010 12:53 PM

Mobile operator says higher revenues from 18% market share helped it narrow losses.

Zain Saudi Arabia seals $2.5bn loan

Tuesday, 11 August 2009 10:30 PM

Facility to be used to repay existing Murabaha, as well as fund network expansion and future growth.

Zain Saudi Arabia posts $608m net loss in 2008

Tuesday, 24 February 2009 2:46 PM

Telecom major earns gross revenues $135m, with active customers totalling over 2 million.

Zain Saudi Arabia posts $608 million loss

Tuesday, 24 February 2009 1:48 PM

Two million subscribers added to the network after four months

Five banks to underwrite Zain Saudi rights issue

Tuesday, 5 June 2012 6:33 PM

Saudi Arabia's Al-Rajhi Bank and Banque Saudi Fransi said to be among banks involved

Kingdom Holding offers to buy Zain Saudi stake

Monday, 31 January 2011 12:11 PM

Saudi investment firm offers to buy Zain's 25% in Zain Saudi Arabia, which is worth about $690m at current share price

Kuwait's Zain posts 27% fall in Q1 net profit

Wednesday, 8 May 2013 6:34 PM

Telecom operator blames poor performance on operations in Saudi Arabia, Sudan


Officers »
Board of Directors Position
Hussam Bin Saud Bin Abdulaziz Al Saud
Chairman
Asaad Ahmad Al Banwan
Board Member
Saad Hamad Al Barrak
Board Member
Khaled Abdullah Al Hajeri
Board Member
Marwan Al Ahmadi
Board Member
   
Management Position
Nabil Younan
Chief Financial Officer
Lars P. Reichelt
Chief Commercial Officer
Ahmad Jaber Al Faifi
Chief Planning and Business Development Officer
Ismail Mohammed Fikri
Chief Technical Officer
Khaled Al Farekh
Launch Director
View all
Major Shareholders
Name Country
Public Pension Agency
Saudi Arabia
Zain - Kuwait
Kuwait
Saudi Plastic Factory
Saudi Arabia
Faden Trading and Contracting Establishment
Saudi Arabia
This Week's Magazine »

Cover Story

Moment of truth for the Arab youth
This year’s Arab Youth survey suggests that entrepreneurial spirit is high and a growing number of young Arabs would like to work in the private sector.

Also in this issue

Subscribe Now