Al-Shaab Urid TV channel postpones initial public offering

The founders of the Al-Shaab Urid satellite channel have postponed the company's public offering, claiming that procedures for the offering have not yet been completed.

The offering was due to take place on Friday, to coincide with a demonstration by journalists in support of the new channel, which it is hoped will receive its financial support from subscriptions.

The Financial Supervisory Authority warned the channel that it must not start the offering before it has obtained the necessary permits.

“We will air a highly professional and transparent content,” said channel co-founder Belal Fadl, a journalist and screenwriter.

“And we put in place guarantees to protect the channel against the control of the state or of businessmen,” he said.

“If the channel is banned for any reason, we will take to the streets.”

Translated from the Arabic Edition

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