Asiacell Starts Trading on Stock Market

Rabee Securities listed Asiacell Communications PJSC yesterday (Sunday). The company started trading today under the ISX ticker "TASC", at a starting price of IQD 22.

In total 67,503,000,000 number of shares were listed and sold, for a total of IQD 1,485,066,000,000 (around $1.24 billion). Asiacell's market cap is IQD 5,940bn ($4.95bn). Foreigners bought 70% of the float and Iraqis 30%.

Asiacell, the only representative of the telecom sector on the ISX, has 49.9% market share in total ISX Mcap. Other seven sectors' shares in total Mcap of the ISX are as the following: banking sector (41.4%), hotels&tourism sector (3.3%), industry sector (3.2%), services sector (1.5%), agriculture sector (0.6%), insurance sector (0.1%) and investment sector (0.1%).

(Source: Rabee Securities)

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