ZAIN Listing

[moneysoon]

May 19 The owners of Zain Iraq, the country's biggest mobile phone operator by subscribers, aim to sell 25 percent of the company's shares after it joins Baghdad's bourse, parent firm Zain said on Tuesday.

Iraq's three mobile firms were required to float a quarter of their shares and join the Iraq Stock Exchange (ISX) by August 2011 as part of their 15-year licences awarded in 2007.

 

So far only Ooredoo unit Asiacell has floated, joining the ISX in February 2013. Daily fines for not doing so are being levied against the other operators: Zain Iraq and Korek, the smallest of the three.

Alkhatem -- a local joint-stock company formed to hold 100 percent of Zain Iraq's shares -- on April 28 received regulatory approval to list on the ISX and must do so within two months of that date, a Zain spokesman said in an emailed response to questions from Reuters.

 

A quarter of Alkhatem's shares "will be offered for sale soon after finishing the listing process", the spokesman said.

"We are committed to continue offering 25 percent of the shares until totally sold."

Zain owns 76 percent of Alkhatem, according to the Kuwaiti firm's annual report.

"Initially, the main seller will be from Zain Group, at the same time 100 percent of the company will be listed, allowing others to sell too," the spokesman said.

 

The share sale, which differs from the book-building process Asiacell used in 2013, is going ahead despite vast swathes of the country falling under the control of Islamic State, which this week seized Ramadi, the capital of Anbar province and 110 km (70 miles) northwest of Baghdad.

 

"Even though the country is currently facing many challenges, we still believe Iraq has huge potential and once the current situation is recovered, we will start seeing significant growth in the sector and uplift to the economy," a Zain spokesman said.

 

Zain Iraq made a first-quarter net profit of $34 million on revenue of $304 million, down 15 and 4 percent respectively from the year-earlier period.

 

The company's performance "was severely hampered by the escalation of political and social instability," parent firm Zain's earnings statement said this month, adding the unit had suffered "frequent temporary network shutdowns and associated higher network operational costs", plus intense competition and currency fluctuations. (Editing by Mark Potter)

[haymon]

Thanks

[TrinityeXchange]

Thanks money! Good to read from you again my brother.

[skeetdog]

Thanks moneysoon...I would imagine it's an entirely different playing field with this administration compared to the Maliki Regime... 

[moneysoon]

Hey All,

 

I spent the day with "Breitling" on Saturday. It was interesting. The discussion about the ISX/ESX was what I wanted to hear about specifically based on several of his previous suppositions.

 

What I have been looking for lately will confirm my prediction about how this is going to play out as it relates to the notion that ISX-ESX desires to list on the NASDAQ. While this would be ideal, as Breitling suggests,  I do not believe this is their plan, at least initially. Therefore, what I am currently looking for is ANY evidence of SEC filings illustrating that the ISX or ESX has taken ANY steps to list on the NASDAQ.

 

I could be wrong on this one, but I think I have their long game figured out and I am not sure the NASDAQ is the play they are going to make. If I am  correct, we stand to make a killing compared to if the ISX-ESX listed on the NASDAQ prior to the full development of their own Bourses.

[skeetdog]

Share the wealth...We're all in this together...Puff, puff, pass...lol....Is this Kansas...or Dubai...

[TrinityeXchange]

I could be wrong on this one, but I think I have their long game figured out and I am not sure the NASDAQ is the play they are going to make. If I am  correct, we stand to make a killing compared to if the ISX-ESX listed on the NASDAQ prior to the full development of their own Bourses.

I appreciate your feedback Money.  Its amazing how congruent our opinions are on this subject matter.  I have long held that the ISX was neither joining Nasdaq in the short nor mid term.  Long term, perhaps....but I have my doubts there as well.  It appeared to me that because Nasdaq technology was utilized to upgrade the trading platform of the ISX (and will be used by the ESX) that many assumed this meant a bridge between it and Nasdaq.  I think that was a stretch and never read anywhere of that being the overall strategy for the Iraqi bourses.  

 

On another topic my friend, what are some of the main plays you think are good on the ISX?  It looks like we have finally turned a corner with investor momentum swinging upward.  I'm pretty stoked after selling a huge holding of BMNS for 7.6% gain the other day.  I was holding that play since October 14' and it finally paid out for a brother.  I still kept a hefty amount of shares though not convinced that BMNS is done running.....I can see this stock easily approaching 1.05-1.10 before the end of the year.  I am doing my analysis work and prepping for new plays and wondered what you see as a strong buy.

 

Always good to see you around my friend.  I missed you bro.  God bless!

 

ps.  as for ZAIN, i am not holding my breath.  initially i was going to keep a little something stashed away for when they go public but that money is best served being already invested in the market.  i read through that article a couple of times and excuses for delay.  first they said that before they could offer the ipo the company must first be listed on the isx.  then it reads that they have 2 months from April to get listed which equates the end of June.  lastly they state that they will offer shares "soon" after being listed.  now back in the day i would have been all excited thinking that this thing could happen in july but i have become tempered in the ways of iraq where NOTHING is done with haste.  the earliest i can see this thing happening is 4th quarter 2015 at the earliest.  but that's just my 

Edited May 29, 2015 by TrinityeXchange

[moneysoon]

Hello Brother,

 

Good to hear from you too. I had to take a break and concentrate on my new business for a while. I am already expanding Thanks to the Lord's Blessings. We are definitely kindred Spirits thank God for the Blood!

 

I am watching a few old faithfuls that I have previously discussed as having potential to return to their average price points. I have been thinking how fortunate I am to have participated in several AGM's. The AGM's that gave future subscription rights at insane amounts will come into fruition in the next couple of years at the latest. They alone were worth the journey. I will say that the Bank and Hotel Stocks will continue to be our best plays. BBOB has become the poster boy for our strategy.  I am watching BMFI and BEFI for a while. I am looking to return to active trading in the fall once my second business is in the black. I am holding out for a major AGM mid fall.

 

Now on ZAIN.... while they are slow they are not without a strategy. You might want to reconsider your play on Zain, they are already listed as a company on the ISX. All that is left is for them to announce the starting date. Like how they tried to slip this one in on us???

 

 

Blessings!