Tunisie Telecom, the government-owned telecom operator in Tunisia, has begun procedures for dual listing on the Paris and Tunis stock exchanges, according to Beltone Financials.
The documents for the planned initial public offerings have already been registered, completing the first stage of the company's listing process in both Paris and Tunis.
Tunisie Telecom is a well-developed telecommunications operator, offering mobiles and internet services. It was founded in 1995 and is based in Tunis, Tunisia.
"This will become the first telecom listing in Tunisia," Beltone Financials commented. The other two big telecom companies active in the Tunisian market, Tunisiana (until recently co-owned by Qtel and Orascom Telecom) and newcomer Orange (owned by France Telecom) are not yet listed.
Qtel’s Wataniya listing will be the second listing, as the company declared last week that it plans public listing for both its Tunisian and Iraqi units. The company recently increased its stake in Tunisiana from 50 per cent to 100 per cent, after buying the Orascom's share.