Trading name Zain Traded as Tadawul: 7030 Website www.sa.zain.com Founded 26 August 2008 Parent organization Zain Group | Type Public ISIN SA121053DR18 Headquarters Riyadh, Saudi Arabia Area served Saudi Arabia | |
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Key people Farhan Bin Naif Al-Faisal Al-Jarba (Chairman) Stock price 7030 (TADAWUL) SAR 9.05 +0.10 (+1.12%)9 Apr, 3:00 PM GMT+3 - Disclaimer CEO Peter Kaliaropoulos (1 Jan 2017–) Profiles | ||
Mobile Telecommunication Company Saudi Arabia is a telecommunications services company that offers fixed line, mobile telephony, and Internet services under the brand name Zain Saudi Arabia. Zain was the third mobile network operator in Saudi Arabia. It was launched on 26 August 2008 and it enrolled more than 2 million subscribers within 4 months of its launch.
History
The Mobile Telecommunication Company Saudi Arabia was incorporated as a joint stock company to operate the third mobile telecommunications network in Saudi Arabia based on the Council of Ministers Resolution No. 175 dated 11 June 2007. The company was registered under the Commercial Registration number (1010246192) on 12 March 2008. The company paid $6.1 billion for a license to operate in Saudi Arabia for 25 years. Mobile Telecommunication Company Saudi Arabia was listed on the Tadawul on 22 March 2008.
Zain launched mobile services in Saudi Arabia on 26 August 2008.
The company negotiated a $2.5 billion Islamic loan in 2009.
Zain appointed a new chairman on 23 March 2013, without giving any further information as is common in Saudi Arabia. This news came within a week of Saudi Telecom's (STC) CEO resigning from his position.