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"Asiacell" declare open the door of the "biggest" IPO in Iraq


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"Asiacell" declare open the door of the "biggest" IPO in Iraq

THURSDAY, DECEMBER 03, 2 / JANUARY 2013 16:06

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Twilight News / announced "Asiacell" Mobile Communication, Thursday, that the special offer its shares open for subscription now.

She said in a statement received "Twilight News" The IPO will open 25% of its share capital to all investors who wish to subscribe, whether they are individuals or institutions who have a commercial record in Iraq as of today and until the second of February.

The company added that it expected to start trading shares "Asiacell" in the Iraq Stock Exchange on February 3, 2013 are indicated by TASC, and there is no minimum subscription in the company's shares that can be subscribed by investors.

The statement that he expected to be this offer for subscription is the largest in the history of Iraq, noting that it will be announced any new information if available. http://www.shafaaq.com/sh2/index.php/news/economy-news/50689-qq----qq---.html

Executive Director of the Iraqi Stock Exchange: inclusion of the ACL in February will be a gift to the market

January 3, 2013 15:49 Last updated: 03 Jan 2013 15:53

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Qatar Telecom - Qtel (QTEL)

QTEL 107.00 6.90 6.89%

Qatar Telecom - Qtel (QTEL)

Asia Cell (TASC)

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Taha said Abdul Salam executive director of the Iraqi Stock Exchange, the shares of Asiacell's for "Qtel" on the third of February, will be a gift to the market through the addition of the telecommunications sector for options investors. completed by saying that there are about 85 companies listed in the Iraqi Stock Exchange, which fell main index eight percent almost in 2012 and concentrated market value significantly in the banking sector despite the existence of shares in the sectors of industry, insurance, hotels and agriculture. predicted Abdul Salam Speaking to Reuters increase trading volume in the stock market, which amounted to about three million dollars a day in 2012 by ten percent almost thanks insertion . telecommunications companies have become a big bet in Iraq in the long term as the International Monetary Fund expects growth of the Iraqi economy more than ten percent this year and nine percent at least annually during the next five years to support the growth of oil production. This would boost demand for advanced data services. Asiacell announced that its net income reached 474 billion dinars in the first nine months of 2012 compared to 505 billion in the whole of 2011. The company says it acquires 43 percent of the volume of revenue the mobile phone market and the number of its subscribers 9.9 million subscribers. Based on the price of 22 dinars per share in the offering is likely to be the company's shares denominated about 9.6 times the expected profits in 2012, according to Reuters calculations. has not Investors therefore rated generous as it is similar assessment Qatar Telecom in Qatar Exchange's most sophisticated and least risky but can be justified that the prospects of economic growth for Iraq in the long term. however may not be the initial public offering of Asiacell same smoothness that تنبيء the economic prospects in the long term . and not more than the current market value of the Iraqi Stock Exchange, for 5.6 trillion dinars (4.8 billion dollars) and therefore may not be absorbed inclusion Asiacell easily at once. expected to double to include companies communications three market value of the stock to nearly double. Moreover not yet developed a culture shareholdings in Iraq, where preferably many people because of their experience with the political history of the troubled country to keep their money liquid or in the form of bank deposits. says Akram Mohammed, an engineer at the age of 30 years and live in Baghdad, "I do not invest my money in the stock market because there are no profits expected . more listed companies are not profitable companies. " And retains Mohammed his money in the bank. was buying by foreign investors - who rose their holdings of listed shares to 19 percent by the end 2011 from three percent in 2008 - shares in Asiacell. , but these hopes complicated after canceled bank Morgan Stanley, HSBC. S. me. C at the end of last year, plans to help manage the IPO. He declined two banks giving reasons. thus became spring Securities in Baghdad is a distributor and agent selling only shares and without the participation of foreign banks may be difficult to attract the attention of foreign and arrange purchases shares in dinars, which are not traded internationally. insists Abdul Salam that IPO Asiacell attract attention foreigner great and it will help to encourage more equity funds foreign to enter Iraq. operates five funds foreign currently in Baghdad Stock Exchange. adds Abdul Salam "Many investors Iraqis and non-Iraqis يراسلوننا and say we governor or box and want new shares want new companies.

http://www.mubasher.info/portal/ISX/getDetailsStory.html?goToHomePageParam=true&storyId=2222655

Insert Asiacell in Baghdad market test of investor confidence in Iraq's economy

January 3, 2013 16:28 Last updated: 03 Jan 2013 16:28

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Asia Cell (TASC)

Asiacell seeking to raise $ 1.35 billion offering of 25% of its shares in the Baghdad Stock Exchange.

This will be the largest initial public offering of shares in Iraq and one of the largest listing in the Middle East in recent years, most notably in Iraq since the overthrow of the US-led invasion toppled Saddam Hussein in 2003, as Arab cnbc said.

So would be seen as a test of investor confidence in the economy is recovering from years of war and political unrest and financial sanctions.

Officials hope to recreate the success of the stock offering and attract foreign investment to the country and help turn the stock market to a useful tool for Iraqi companies to raise funds for expansion.

But the financial system small and underdeveloped hamper the country's economic growth, which could hinder the inclusion of Asiacell and prevents the sale of some of the offered shares. The Iraqi Stock Exchange may face some trouble in absorbing new IPO investors may find foreigners interested difficulty in transfer funds to Iraq.

The economist said in Baghdad, Saad al-Bayati said that weak economic climate because of political tensions and lack of security and the flight of capital from the country threatens such a large IPO.

Asiacell said Qatar Telecom, which owns 54 percent of the shares in a statement last week it would sell 67.503 billion shares at a price of 22 Iraqi dinars at least ($ 0.02) per share in the initial public offering, which begins the third Thursday of January.

It is expected that this proposal is the first of three operations to include the telecom Iraqi as must Asiacell and rivals Mahlitin Zain Iraq, a unit of Kuwait's Zain and Korek Telecom of France Telecom gather capital through IPOs as a condition for operating licenses mobile services from the government and their value $ 1.25 billion.

Did not abide by the three companies a deadline earlier solution in August 2011 and pretended that the stock market is not ready enough at the time. The three companies paid fines delay.

Authorities resorted to the requirement listing on the stock exchange as a means to encourage private ownership in the economy is still state-owned companies dominated the distribution of wealth resulting from the economic recovery of the Iraqi population.

The executive director of the Iraqi Stock Exchange, Taha Abdul Salam The shares of Asiacell on the third of February will be a gift to the market through the addition of the telecommunications sector for options investors.

There are about 85 companies listed in the Iraqi Stock Exchange main index fell by almost eight percent in 2012, and concentrated market value significantly in the banking sector despite the existence of shares in the sectors of industry, insurance, hotels and agriculture.

Abdulsalam predicted increase in trading volume in the stock market, which amounted to about three million dollars a day in 2012 by almost ten percent thanks to the insertion.

Telecommunications companies have become a big bet in Iraq in the long term as the International Monetary Fund expects growth of the Iraqi economy more than ten percent this year and nine percent at least annually during the next five years to support the growth of oil production. This would boost demand for advanced data services.

Asiacell announced that its net income reached 474 billion dinars in the first nine months of 2012 compared to 505 billion in the whole of 2011. The company says it acquires 43 percent of the volume of revenues of the mobile phone market and the number of its subscribers 9.9 million subscribers.

And based on the price of 22 dinars per share in the IPO process is likely to be the company's shares valued at about 9.6 times their expected profits in 2012, according to Reuters calculations.

Investors may not be considered a generous assessment, as it is similar assessment of Qatar Telecom in Qatar Exchange's most sophisticated and least risky but can justify that economic growth prospects for Iraq in the long term.

However, it may not be the initial public offering of Asiacell same smoothness that the predictors of economic prospects in the long term. And not more than the current market value of the Iraqi Stock Exchange, about 5.6 trillion dinars (4.8 billion dollars) and therefore may not be absorbed easily insert Asiacell at once. It is expected to double the inclusion of the three telecom companies market value of the stock to nearly double.

Moreover not yet developed a culture of shareholdings in Iraq, where many people prefer because of their experience with the turbulent political history of the country to keep their money liquid or in the form of bank deposits. http://www.mubasher.info/portal/ISX/getDetailsStory.html?goToHomePageParam=true&storyId=2222688

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2 cents seems pretty cheap to me. Is this for real? 22 dollars per share, if RV were 1 for 1...seems to be a little high, for a company we don't know that much about. 22 Dinar...has to be someway to read between the lines. :0)

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Based on the price of 22 dinars per share in the offering is likely to be the company's shares denominated about 9.6 times the expected profits in 2012

Asiacell seeking to raise $ 1.35 billion offering of 25% of its shares in the Baghdad Stock Exchange.

That is going to take a LOT of dinnars to make $1.35 billion unless..... :rolleyes:

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Based on the price of 22 dinars per share in the offering is likely to be the company's shares denominated about 9.6 times the expected profits in 2012

Asiacell seeking to raise $ 1.35 billion offering of 25% of its shares in the Baghdad Stock Exchange.

That is going to take a LOT of dinnars to make $1.35 billion unless..... :rolleyes:/>

I didn't pay this article much mind until you said that.

Correct, those numbers would seem to suggest something.

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Those who get their first usually benefit the most. They can help create the market and as well steer it in a direction that favors them. We all know how the Chinese can behave in the way of business. They are very patient and were made for these sorts of investments. Americans can be more impatient and looking for instant gratification, that's why some are so impatient with owning dinar. They want it to revalue right away. I say that it will increase in value, it will just take time and the Chinese are getting in on the ground floor . Cheap.

Edited by R Veyron
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Asiacell said Qatar Telecom, which owns 54 percent of the shares in a statement last week it would sell 67.503 billion shares at a price of 22 Iraqi dinars at least ($ 0.02) per share in the initial public offering, which begins the third Thursday of January.

The math works they tel you 67,503,000,000 shares multiply it by .02 for the 1.35 billion they want to raise! The math works!

Your looking at it the wrong way... Why do iraqi's that are so poor they have food ration cards, having Asia cell setup a cellular network? They can't afford a cell phone! Also I read an article about this last week, the lead investor is George Soros protege, to sum it up he tried 10 years ago to get people to invest in Iraq, and said it was a hard cell, but over the last year he has had lots more interest from those same people that turned him down 10 years ago!

I want to know how did he seek investors to invest in Iraq 10 years ago? We did not invade 10 years ago, it will be 10 years this march! The mission accomplishment way may 1, 2003! And dinar with saddam on it was still used in 2004 until the new Iraqi dinar was printed an put into circulation in late 2004! So again I ask how was he trying to invest in Iraq 10 years ago?.... Maybe he was or George Soros his mentor was part of the framers of the plan? After all George soros broke the banks on uk in the nineties, so why wouldn't he be consulted on how to make a handful of people very rich???

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"There is NO minimum In th companies share's that can be subscribed by investors."

I like that qoute in the article as this must be what it means to float a stock on the ISX. It is my hope that my broker Warka will reduce the minimum purchase down from 200k shares :)

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