The Telecommunications Regulatory Authority (TRA) told Reuters that Zain Bahrain should sell 15% of its shares in an IPO, after the company announced it had received approval to launch a listing last week.
Local reports in Bahrain suggested last week the government had ordered the company to float its shares, however this remains unconfirmed.
In 2003, Bahrain awarded a second mobile licence to Kuwaiti company Zain, ending Batelco’s monopoly.
Batelco had earlier planned an IPO in 2008 but the share sale was abandoned.
