Dubai-based pay-TV operator OSN (the former Orbit Showtime Network) was last year valued at around $2.5 billion, and that valuation helped convince majority (60.5 per cent) owners KIPCO to contemplate an Initial Public Offering (IPO) for OSN.
On March 31st KIPCO said it hoped to start the IPO process for OSN “within weeks”. Also helping convince KIPCO is a much improved revenue position at OSN. OSN, which offers subscription-based television services in the Middle East and Africa, is forecast to double revenue in the next three years from $700 million currently, Kipco’s Vice Chairman Faisal al-Ayyar said last month.
Recently Dubai-based investment bank Arqaam Capital increased OSN’s valuation from $2.5 billion to $4.3 billion. OSN offers around 140 channels including 44 in HDTV.