Saudi Arabia’s i2 plans IPO for H2 2008 (Saudi Arabia)Saudi Arabian mobile phone distributor i2 is planning an initial public offering of shares for the second half of 2008, reports CommsMEA. “There are a few more internal measures we have to take before we can set about making an initial public offering but it is something we are looking to implement in 2008,” said i2 CEO Abdul Hameed Al Sunaid. The company recently announced plans to move into the MVNO market, pursuing a licence initially in Jordan. The company’s also in advanced talks for an MVNO in Bahrain and is looking at similar operations in Saudi Arabia, Egypt and Oman. The company expects to double sales this year to USD 3.2 billion form USD 1.3 billion, helped by a string of acquisitions. Volumes are expected to also double this year to 12 million handsets sold. I2 aims to grow its retail network by opening 150 new shops in the Middle East over the next three years.
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