Virgin Mobile Middle East & Africa is exploring options including selling all or part of itself, people with knowledge of the matter said.<\/p>\n
The closely held company is working with Evercore Inc to assess options, which may include an initial public offering, said the people, who asked not to be identified because the deliberations are private.<\/p>\n
Discussions are at a preliminary stage and no final decisions have been made, meaning that the owners may opt to retain the business or spin it off, they said.<\/p>\n
Representatives for Virgin Mobile Middle East & Africa and Evercore declined to comment.<\/p>\n
Shareholders of the company include billionaire Richard Branson\u2019s Virgin Group, Kuwait\u2019s Gulf Investment Corp and National Technology Enterprises Co, investment firm ePlanet Ventures, Oman\u2019s Dolphin International and members of the senior management team, according to its website.<\/p>\n
Formed in 2006 and headquartered in Dubai, the carrier offers wireless services in Saudi Arabia, Oman, Malaysia and South Africa either under its eponymous brand or as Friendi Mobile.<\/p>\n
The company raised $30 million through the sale of Islamic bonds in May.<\/p>\n
The so-called sukuk were chosen \u201cafter carefully exploring appropriate funding routes in line with the company\u2019s preparations for a potential public markets listing,” the carrier\u2019s chairman Peter Langkilde said at that time.<\/p>\n