Spice Communications is planning to list itself on the Dubai or Singapore stock exchange, and intends to raise about $1 billion from an initial public offering (IPO).

Spice Communications is planning to list itself on the Dubai or Singapore stock exchange, and intends to raise about $1 billion from an initial public offering (IPO). The company will use the funds to roll out mobile services in four new telecom circles in the first half of 2008. Meanwhile, Spice Corporation, which owns Spice Communications and Spice Mobile, is also exploring the possibility of listing its value-added services firm Cellebrum on the Bombay and Singapore stock exchanges. According to Spice, although Cellebrum has been valued at $500 million, it will be offered to the market at a lower price to benefit shareholders.