The E£5.13 billion ($891 million) deal is the third-biggest IPO in the region for at least 25 years and just slightly bigger than Lebanese telecom operator Investcom’s $778 million in October 2005. The deal is the largest in the region since Maroc Telecom’s $1.04 billion IPO in December 2004.
The IPO was completed using an unusual volume-weighted average price pricing method.
“The deal was divided into a retail tranche and an international tranche,” says Albert Momdijan, head of Middle East corporate and investment banking at CSFB, joint global coordinator with local investment bank EFG Hermes on the...
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