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Iraq’s telecom operator Asiacell to go public in early 2013 in first post-Saddam stock float

yota691

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yota691 Grand Master

yota691

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Iraq’s telecom operator Asiacell to go public in early 2013 in first post-Saddam stock float

By Associated Press, Updated: Monday, December 3, 3:19 AM

BAGHDAD — The Iraq Stock Exchange says one of the country’s largest mobile operators will start publicly trading its shares early next year. It will be the first stock float since the reign of Saddam Hussein.

The ISX said in a statement Sunday that a quarter of the Iraqi telecom operator Asiacell shares will be traded publically as of Feb. 3.

The statement says the Initial Public Offering will take place from Jan. 3 to Feb. 2 and that the share price must be determined by Dec. 25.

Asiacell, an affiliate to Qatar Telecommunications, is one of three mobile operators in Iraq. The other two are Zain Iraq, part of Kuwait’s Zain, and Korek, an affiliate of France Telecom. http://www.washingtonpost.com/business/iraqs-telecom-operator-asiacell-to-go-public-in-early-2013-in-first-post-saddam-stock-float/2012/12/03/1eddde8c-3d22-11e2-8a5c-473797be602c_story.html?fb_action_ids=3926303596427&fb_action_types=og.recommends&fb_ref=sm_btn_fb&fb_source=timeline_og&action_object_map=%7B%223926303596427%22%3A481785638527250%7D&action_type_map=%7B%223926303596427%22%3A%22og.recommends%22%7D&action_ref_map=%7B%223926303596427%22%3A%22sm_btn_fb%22%7D

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yota691 Grand Master

yota691

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Iraqi telco Asiacell to launch IPO on Jan 3

By Matt Smith

DUBAI | Mon Dec 3, 2012 5:24am EST

Dec 3 (Reuters) - Iraqi telecom operator Asiacell will launch its long-awaited initial public offering (IPO) on Jan. 3, a company spokesman said on Monday, in what is likely to be the country's largest-ever share sale.

Asiacell, a subsidiary of Qatar Telecom (Qtel), aims to sell a quarter of its stock in the IPO and will list on the Iraq Stock Exchange on Feb. 3, the spokesman said.

The company has until Dec. 25 to tell the market regulator the number and price of the shares it wants to sell.

Asiacell - given an enterprise value (equity plus debt) of $4.4 billion in 2011 by brokerage Nomura Holdings - received preliminary approval from Iraqi regulators to launch its share sale in August this year.

Morgan Stanley ceased to be a bookrunner on the IPO in September, signalling it will increasingly rely on local investors.

Asiacell and rival operators Zain Iraq (a subsidiary of Kuwait's Zain ) and France Telecom affiliate Korek had been required to float a quarter of their shares by August 2011 as part of their $1.25 billion licence agreements.

All have yet to do so and the planned share offerings would still be the first major IPOs since the U.S.-led invasion that toppled Saddam Hussein in 2003.

The Iraq Stock Exchange, whose listed stocks have a combined market capitalisation of about $3.7 billion, has a daily share trading volume of around $3.2 million. (Reporting by Matt Smith; Editing by Dinesh Nair and David Holmes) http://www.reuters.com/article/2012/12/03/iraq-asiacell-ipo-idUSL5E8N35TT20121203

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Deborah Layne Newbie

Deborah Layne

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Okey doke, I'm going out on a limb:

For the ISX to do what they're letting us know they're planning to do, they will have to be out of Chapter 7. The date that they can do that will be December 15th. For them to get out of Chapter 7, they have to revalue the currency. So. I am concluding that the RV/RI is expected to happen between now and the 15th.

I'm not concerned about the politics much. They will be rattling sabers forever. It will take years and years to get a settled and reliable GOI. And if people like US know this, then certainly the PTB who have the ability and power to make this thing happen know it too. Pay no attention to the man behind the curtain.

I don't think it's unrealistic to say we can probably expect this to happen within the next 12 days.

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yota691 Grand Master

yota691

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Eni confirms commitment to Iraq

MILAN | Mon Dec 3, 2012 10:58am EST

Dec 3 (Reuters) - Italian oil and gas group Eni said on Monday it confirmed its presence and commitment in Iraq after its Chief Executive visited the country's Prime Minister.

In a statement Eni said Paolo Scaroni had talked to Nuri al-Maliki about prospects in Iraq and joint development opportunities.

Earlier this year Scaroni said the group's enthusiasm in Iraq was on the wane because of difficulties in the country.

State-controlled Eni, together with U.S.-based Occidental Petroleum Corp and South Korea's KOGAS, has a 20-year deal with Iraq to develop the Zubair oilfield, which is expected to produce 400,000 barrels per day in 2013. http://www.reuters.com/article/2012/12/03/eni-iraq-idUSL5E8N3FVW20121203

Iraq telecom operator to go public in early 2013

The Associated Press

Published: Monday, Dec. 3, 2012 - 12:24 am

BAGHDAD -- The Iraq Stock Exchange says one of the country's largest mobile operators will start publicly trading its shares early next year. It will be the first stock float since the reign of Saddam Hussein.

The ISX said in a statement Sunday that a quarter of the Iraqi telecom operator Asiacell shares will be traded publically as of Feb. 3.

The statement says the Initial Public Offering will take place from Jan. 3 to Feb. 2 and that the share price must be determined by Dec. 25.

Asiacell, an affiliate to Qatar Telecommunications, is one of three mobile operators in Iraq. The other two are Zain Iraq, part of Kuwait's Zain, and Korek, an affiliate of France Telecom.

Read more here: http://www.sacbee.com/2012/12/03/5026348/iraq-telecom-operator-to-go-public.html#storylink=misearch#storylink=cpy

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asad Newbie

asad

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Asiacell to go Public in Early 2013

Posted on 04 December 2012. Tags: Asiacell, IPO, ISX, mobile phone, Stock Exchange, Telecommunications

By John Lee.

The Iraq Stock Exchange says that Iraqi telecom operator Asiacell will start publicly trading its shares as of 3rd February.

Associated Press also report that it will be the first stock float since the reign of Saddam Hussein.

An Initial Public Offering (IPO) of 25 percent of the company’s shares will take place from 3rd January to 2nd February, and that the share price must be determined by 25th December.

Asiacell is an affiliate to Qatar Telecommunications.

(Source: Associated Press) ;)

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MrFnHappy Newbie

MrFnHappy

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Of course this is IMHO, but I think that if you want to make any type of substantial profit from anything Iraq, it will be in the ISX, and more specifically telecom and internet providers and bank stocks.

Of course none of this will produce immediate profits, you will have to hang on to your stocks, but I believe it's a good bet.

Good luck to all, and thanks once again yota for posting all that you do.

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rightsonword Newbie

rightsonword

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Of course this is IMHO, but I think that if you want to make any type of substantial profit from anything Iraq, it will be in the ISX, and more specifically telecom and internet providers and bank stocks.

Of course none of this will produce immediate profits, you will have to hang on to your stocks, but I believe it's a good bet.

Good luck to all, and thanks once again yota for posting all that you do.

Totally agree with you. There is money to be made on the ISX . . . assuming our brokers don't pull a Bernie Madoff. ;)

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sandyf Newbie

sandyf

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Can anyone answer these for me:

Ist the ISX public already?

What is the difference between this and what they currently have??

Correct on the first and none on the second.

People are making a big deal out of this but it is just normal evolution. The ISX normally closes for a week prior to the year so not surprising it has to be sorted by Dec 25th.

The fact that the ISX will be closed and that Dec 31st is the end of the financial year provides the best window of opportunity for any significant changes.

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nemesis760 Newbie

nemesis760

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Correct on the first and none on the second.

People are making a big deal out of this but it is just normal evolution. The ISX normally closes for a week prior to the year so not surprising it has to be sorted by Dec 25th.

The fact that the ISX will be closed and that Dec 31st is the end of the financial year provides the best window of opportunity for any significant changes.

Thanks Sandyf!

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hoosier1470 Newbie

hoosier1470

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duck dynasty

Love that show!! Ol' Si cracks me up!! Along with all the rest...hell, that's the only reason that I pay for cable TV!! DL...I truly believe you are right on the money with your theory..this time frame plays right into what they have been saying concerning things happening the first of 2013! I've suspected that they would need an exchange rate increase a couple weeks prior. Thanks for your input...and Thanks Yota! You are by far one of the best newshounds we have here on DV! God Bless!! Go RV/RI!!

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