KUWAIT, May 26 (KUNA) -- CEO of Kuwait Telecom Company (VIVA) Najib Al-Awadhi said here Wednesday that the company was working on required procedures to get it listed on Kuwait Stock Exchange (KSE).
Al-Awadhi told the press on the sideline of VIVA's General Assembly, which was attended by 50.7 percent of shareholders, that the company had gained around 600,000 clients, accounting for 15 percent of the local market, affirming that the company was eager to increase the number.
He noted that VIVA succeeded in its Initial Public Offer (IPO) to gather around KD 25 million, adding that the number shareholders in the company had reached 930,000.
Al-Awadhi said that Kuwaiti shareholders represented 50 percent of the total number of subscribers.
On his part, VIVA Chairman Adel Al-Roumi said that despite short existence in the telecom market, VIVA had surpassed all expectations with existing investments in infrastructure reaching KD 80.3 million.
VIVA's performance in 2009 has exceeded expectations, noted Al-Roumi, affirming that the company would continue to provide good services to its clients.
VIVA's General Assembly approved all of the items within the agenda, namely the item concerning steps to list VIVA on KSE. - Kuna