No. 33



MobiNil To Raise $117Mn Through Secondary Offering

MobiNil, Egypt's GSM phone operator, announced on 10 August that it is planning toraise E400mn ($117mn) through a secondary public share offering to take place inmid-September following the sale of 30% in an initial public offering last February. Thecapital raised will be used to finance the GSM network expansion program (MEES, 10August). According to the daily al-Alam al-Youm, 'Usman Sultan, MobiNil Chief...