Bahrain’s Batelco says not applied for dual listing with any stock exchange

Bahrain Telecommunications Co. (Batelco) today, June 20, confirmed it conducted preliminary assessment of merits of dual listing, but clarified that as of now there is no filing with any stock exchange, according to a bourse filing on Bahrain Bourse.

The firm added that no decision was taken.

According to data available with Argaam, Batelco is said to be planning a dual listing of its shares on the Saudi Exchange (Tadawul) and hired Samba Capital as an advisor, Bloomberg reported, citing sources.

Batelco's major shareholders include Bahrain Mumtalakat Holding Co. with 36.67% stake, Amber Holding Co. (20%), Social Insurance Organization (10.57%), and Social Insurance Organization (Pension) - Civil (6.11%).