Dubai: du, the UAE's second national telecommunications operator, will soon offer a switch from Etisalat with the same number, but the code will change from 050 to 055.
du officials told Gulf News that the Telecommunications Regulatory Authority (TRA) will approve the move to be valid in the second half of this year.
"The TRA will put conditions to switch from Etisalat to du with the same number. But you must own Etisalat's SIM card and number to switch to du," a source said.
du will list on the Dubai Financial Market (DFM) on April 22, the company said yesterday.
Financial experts expect the du shares to send the market higher.
"Investors can buy du's shares from next Saturday. This step could increase trading and revitalise the stock market."
"It is an important financial milestone in du's history," said du chief executive officer Osman Sultan.
The initial public offering of shares in the Emirates Integrated Telecommunications Company, which is now known as du, was oversubscribed 167 times. More than 225,000 investors applied for shares.
According to the investment banker EFG-Hermes, this is the largest amount collected in the history of IPOs.
