Because of the government's intention of involving the society in the process of the comprehensive development in the Republic of Yemen, part of the share of the Public Telecommunication Corporation has been dedicated for the public to engage in a partnership with the founders of the other sectors as well as the involvement of the private sector and citizens to contribute and transfer Yemen Mobile to a Public Shareholding Company, thus Yemen Mobile Company is the first of its kind in the country in terms of number of shareholders and the opportunity of contribution for all citizens.
And based on the Council of Ministers resolutions NO.(97), (287) for the year 2006 regarding the conversion of Yemen Mobile into a Public Shareholding Company according to the Yemeni Commercial Companies Law NO.(22) for the year 1997, was the commencement of the establishment procedures of Yemen Mobile and dedicating a proportion of the company's capital for public subscription.
In 14.2.2006 (ask Mohammed) the General Foundational Assembly where the company's basic system has been adopted and the legal accountant report on the assessment of assets of Yemen Mobile as in 31.7.2006.
As well as the completion of the legal proceedings to the Ministry of Industry and Trade and the issuance of decree NO.(50) dated 10.2.2007.
Therefore, public subscription process has been accomplished with success and the company became a Public Shareholding Company with a capital of (43.262.000.000) Riyal.
| NO | The Contributor | Number of Shares | Equity Ratio |
|---|---|---|---|
| 1 | General Organization for Telecommunications | 51,370,244 | %59.37 |
| 2 | the shareholders of citizens and employees | 11,740,288 | %13.57 |
| 3 | Private companies and the like | 8,625,828 | %9.97 |
| 4 | General Authority for Insurance and Pensions | 3,896,020 | %4.50 |
| 5 | General Organization for Social Insurance | 2,810,220 | %3.25 |
| 6 | Retirement Fund and Social Security Ministry of Defence | 2,740,522 | %3.17 |
| 7 | Retirement Fund and Social Security Ministry of the Interior | 1,872,980 | %2.16 |
| 8 | Postal Saving Fund | 2,467,898 | %2.85 |
| 9 | Yemen Economic Corporation | 1,000,000 | %1.16 |