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 deal.
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