Wateen’s Initial Public Offering
I got this in my mailbox today (since I am a Wateen consumer since Dec 2007) Dear Valued Customer, Wateen Telecom is a group company of Abu Dhabi group. Abu Dhabi Group is one of the largest business groups in the Middle East and the one of the largest foreign investor in Pakistan. Abu Dhabi group owns Wateen through Warid Telecom International and Bank Alfalah Limited which hold 79.8% and 20.0% shares respectively. Wateen’s successful four years of operations in the telecom industry of Pakistan speak for itself, as it successfully deployed the largest commercial and first nationwide 3.5 GHz WiMax network rollout in the world covering 22 cities and 1,100 sites with over 160,000 wireless broadband customers (60% of wireless Broadband market), 12,000 Broadband customers over fiber and 2,700…