The latest Iraqi communications news, including developments and opportunities in communications and media from Iraq Business News.
By Ali Abel Sadah for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. On Feb. 5, 2013, the Iraqi parliament responded to a campaign launched by activists against a proposed law criminalizing many means of circulating information. Iraqi lawmakers said that they will draft […]
By John Lee. Iraq has risen two places to rank 150th out of 179 countries in the World Press Freedom Index for 2013, but this followed a fall of 22 places last year. The security situation for journalists continues to be very worrying, with three killed in connection with their work in 2012 and seven […]
By Karin Laub, The Associated Press. Used with permission by Iraq Business News. An Iraqi telecom company raised nearly $1.3 billion Sunday on Baghdad's small stock exchange in one of the region's biggest share offers in years — a sign of investor confidence in the fledgling private sector despite violence that still plagues the country. […]
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 […]
By John Lee. Asiacell’s share sale has been fully subscribed before its closing date, according to the IPO’s organizer. Shwan Ibrahim Taha, chairman of Rabee Securities, confirmed to Bloomberg News: "The offering is now comfortably covered with a good mix of retail and institutional demand from within Iraq as well as institutional and high net […]
By John Lee. The Iraqi Ministry of Communications says a submarine cable project linking Iraq with other countries has been completed. The deputy minister of communications, Ameer al-Bayyati, told Al-Shorfa that the two-year, $36-million project, was completed by Gulf Bridge International, and will provide internet, telephone and television services at lower prices and with higher […]
By John Lee. Asiacell's $1.35 billion share sale will be fully subscribed, bookrunner Rabee Securities has told Reuters. Shwan Ibrahim Taha, chairman Rabee Securities, said: "I knew there would be interest, I just didn't know how much - I can say that we will easily cover it. We will be fully subscribed ... We are […]
By John Lee. Doubts have been expressed regarding Asiacell's ability to raise the record $1.27 billion planned in its forthcoming IPO (initial public offering). According to a report from International Financing Review, observers are said there is a strong possibility the deal may not go through. "The thing about these three Iraqi mobile companies is […]
This week marks the 150th edition of our Iraq Business News newsletter, and we are delighted to mark the occasion by bringing you a major new guide to business in Iraq. Published by Allurentis, in association with Iraq's National Investment Commission (NIC) and UK Trade & Investment (UKTI), the fourth edition in the annual New […]
By John Lee. Abu Dhabi's Invest AD plans to buy into the Asiacell IPO (initial public offering), making it the top holding in its Iraq fund. Sherif Salem (pictured), the manager of the Invest AD Iraq Opportunity Fund, and one of our Expert Bloggers on Iraq Business News, said: "Asiacell is going to be one […]
By John Lee. Shares in Asiacell, the first of Iraq's mobile phone operators to list on the stock exchange, are now open for subscription. According to a statement from the company: • Investors are now invited to complete and submit their application forms to subscribe • 67.503 billion shares, representing 25% of Asiacell's share capital, […]
By Laith Hammoudi. This article was originally published by the Institute for War and Peace Reporting, iwpr.net, and it is reproduced by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A tough new law that could place severe restrictions […]
