Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
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 […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 31st January 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,639 / $1,773 (+3.8%) (weekly change). The number of week traded shares was 7.6bn and the weekly trading volume was ID11.3bn ($9.4mn). ISX Company […]
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 […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 24th January 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,580 / $1,709 (-2.1%) (weekly change). The number of week traded shares was 19.5bn and the weekly trading volume was ID23.7bn ($19.8mn). ISX Company […]
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 […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th January 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,613 / $1,745 (-0.6%) (weekly change). The number of week traded shares was 23.3bn and the weekly trading volume was ID30.5bn ($25.4mn). ISX Company […]
By John Lee. Writing in the Financial Times, a partner at a London-based financial advisory business suggests Iraq as a true frontier market investment. Citing precedents such as Japan in the early 1960s and Russia in 1995, Richard Greer, a partner at Laurel Capital Kingsway LLP, says: "The greatest opportunities for emerging market investors have […]
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 […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th January 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,623 / $1,755 (+0.5%) (weekly change). The number of week traded shares was 19.0bn and the weekly trading volume was ID33.7bn ($28.1mn). ISX Company […]
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 Mark DeWeaver. On December 13 the ISX amended the Iraq Depository Center (IDC) bylaws to prohibit investors from owning the same names in accounts at different brokers. The new rule, which went into effect on January 7, requires anyone holding stocks in the same company through different brokerage accounts to transfer all of their […]
