The long-awaited first IPO of an Iraqi mobile phone provider has finally come to pass, with the commencement of trading in the shares of Asiacell on the Baghdad stock exchange this week.
The fundraising — described by our Expert Blogger Mark DeWeaver as “a Nobel prize-winning IPO” — was a major achievement, effectively doubling the market capitalisation of the stock market overnight, and has succeeded in confounding the sceptics.
Look out for similar floatations to come from Asiacell’s rivals, Zain Iraq and Korek.
Meanwhile, this week at Iraq Business News, we are delighted to welcome a new Expert Blogger: Tom Walker is Director of Assaye Risk, and will give us a weekly update on security developments in Iraq, as well as additional views and analysis in his blog.
You can read his first security update here, and we look forward to getting more of his perspectives on security in Iraq.