Analysts expect the initial public offering (IPO) by Zain Bahrain to be oversubscribed well before its close, according to Gulf Daily News. It launched an offering of 48 million shares at a price of BHD 0.190 on 02 September. The IPO closes on 16 September and the results of subscription and allotment basis will be announced on 18 September. It is open to Bahraini institutional and retail investors as well as GCC institutional investors.

UAE-based Nirvana Wealth Management’s chief analyst Varun Sutholiya told the Gulf Daily News that Bahrain’s relatively high GDP per capita and rising public sector wages, which are driving private consumption growth, make the market suitable for high-value services, especially advanced mobile data services. He said Zain’s nationwide network has recently been upgraded to 4G, priming the operation for increasing its market share, and potentially increasing its data revenues.