Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
By Mark DeWeaver. In a move that is likely to mark the start of a new era for the Iraq Stock Exchange (ISX), National Bank of Kuwait (NBK) has begun offering custody support services for ISX-listed shares through its 80%-held subsidiary Credit Bank of Iraq. This is arguably the most important step forward for the […]
By John Lee. The Iraqi Ambassador to Canberra, Muayed Saleh [Mouayed M. Issa M. Saleh] (pictured), has urged Australian companies to investment in Iraq. At a meeting with the Australian Deputy Minister of Foreign Affairs, Peter Virgiz, the two sides discussed the economic relations between the two countries, and the Iraqi Ambassador called the on […]
John Lee. Zain Iraq's Chief Financial Officer, Wael Ghanayem (pictured), has told Bloomberg that the company plans to list 25 percent of its shares on the Iraq Stock Exchange (ISX) by the end of June. But Geoffrey Batt, managing director of the $44 million Euphrates Iraq Fund, told the news agency: “A more realistic estimate is […]
By Abdel Hamid Zebari for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Kurdistan Region of Iraq is preparing to change its investment approach to focus on new areas of foreign and local investment — including tourism, agriculture and industry — after […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 7th February 2013). Please click here to download a table of listed companies and their associated ticker codes. ID1,646 / $1,780 (+0.4%) (weekly change). The number of week traded shares was 92.7bn and the weekly trading volume was ID1520bn ($1.3bn). ISX Company […]
By Mark DeWeaver. I've often thought there should be a Nobel prize for corporate finance. It would go to the broker or investment bank that managed to place the largest IPO under the most unpromising circumstances. If there were such an award, I think Rabee Securities and its affiliate Melak Iraq would easily win this […]
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 […]
