RIYADH, 15 June 2005 — Mobily with 260,000 subscribers, 110 percent more than the targeted number, launched a major promotional scheme yesterday in a move to win a greater share of the market.
Addressing a press conference, Mobily CEO and Managing Director Khalid Al-Kaf said: “The company’s aim is to register some seven million customers within the next four years.”
The press conference was also attended by Abdul Aziz I. Al-Tamami, Mobily’s chief operations officer, Ahmed A. Al-Hosani, marketing director, and M. Rashid Ali Khan, executive manager for marketing and strategies.
Spelling out the features of the new promotional scheme, Al-Kaf pointed out that the new scheme was designed to provide all prepaid and postpaid service subscribers with 56 free talking minutes and 56 free SMS every month for one full year when calling Mobily to Mobily.
Al-Kaf also gave an overview of Mobily’s services and performance since its launch on May 25. “We are also working on our Haj plan in which we have constituted a panel to test Mobily’s operation and transmission in and around Makkah and Madinah.”
Mobily anticipates creating some 5,000 jobs over the next four years. Its services are available from more than 300 points of sale in 32 cities and towns across the Kingdom. The number is expected to reach 1,400 soon.
Referring to the “56” promotion scheme, Al-Kaf said: “Customers who subscribe to Mobily on or before July 10 will be entitled to the benefits of the promotion whereas old customers will automatically qualify.”
Mobily is the brand name of Etihad Etisalat, the new mobile service provider in the Kingdom. Established according to a 2004 Royal Decree, Saudi public and private investors together own 65 percent of its shares.
Key investors who have acquired 45 percent of the company’s stocks include the General Organization for Social Insurance (15 percent), Al-Jomaih Holding Company (six percent), Abdul Aziz Al-Sighayer Commercial Investments Company (six percent), Rana Investment Company (six percent), Abdullah & Said M.O. Binzagr Company (six percent) and Riyadh Cables Company Group (six percent).
The company presented an additional 20 percent of its shares for general subscription, affording Saudi citizens a chance to invest. The subscription attracted unprecedented interest from Saudi investors and the IPO was oversubscribed more than 51 times.
