Zain to hold conference on forthcoming Iraq IPO

[moneysoon]

KUWAIT CITY, Sept 11: Zain Group, a pioneer in mobile telecommunications across 8 markets in the Middle East and North Africa will be hosting over 150 regional and global telecom investors and financial investment professionals in Dubai at its Capital Markets Day.  The event set to be held on Sept 12 will see senior management from Zain Group and Zain Iraq providing detailed updates with respect to the Zain Iraq’s on-going strategy and operational progress being achieved, as well as preparation to list publicly on the Iraq stock exchange, offering 25% of its shares in accordance with licence requirements. Zain Iraq has taken significant strides forward, having already established a locally domiciled joint-stock company under the name of Al-Khatem Telecommunications Company for the purposes of the listing and recently holding its first Annual General Meeting, electing board members, its chairman and deputy chairman as well as appointing a managing director.

Committed
Scott Gegenheimer, Zain Group CEO and Mohammed Charchafchi, Chairman of the Board of Zain Iraq will be present at the Capital Markets Day, as will Zain Group Chief Financial Officer Ossama Matta and Wael Ghanayem, Chief Financial and Operating Officer of Zain Iraq. The senior executives intend to detail the developments that are shaping the telecom market in Iraq as well as to discuss the strategies that are being undertaken by Zain Iraq to maintain its leadership position in the country. Scott Gegenheimer commented: “We are committed to transparency and open communications with the investor community, and this is why this Capital Markets Day event is so crucial to our plans to list and offer a 25% stake in Zain Iraq.”

He continued: “We are very excited about the prospects for the Iraq market and Zain’s participation in it. Zain Iraq is a critical part of the Group’s activities representing 40% of our revenues and 31% of our customer base. We expect to grow further in the market as we expand our network to the northern regions and look forward to receiving a nationwide 3G licence and securing access to a 3G spectrum as soon as the Communications and Media Commission initiates the licensing process.” Zain has invested over $4.5 billion to date in the development of the mobile network. The listing of Zain Iraq will crown an impressive journey for Zain in the country, which began with the award of a mobile operating license in December 2003, followed by the attaining of a 15 year licence in 2007, and thereafter its acquisition of the Iraqna network in December 2007. Zain Iraq has gone on to become the largest mobile operator in the country, counting 13.9 million customers as of June 2013 and accounting for a 48% market share.

Zain Iraq generated revenues of $1.73 billion in 2012, achieving EBITDA of $766 million. Zain Group currently owns 76% of Zain Iraq’s equity.Three internationally renowned banks, namely BNP Paribas, Citi and NBK Capital, are currently acting as joint financial advisors and bookrunners on behalf of Zain Iraq in the management of the IPO process. Zain is a leading telecommunications operator across the Middle East and Africa providing mobile voice and data services to over 44.4 million active customers as of June 30, 2013. With a commercial presence in 8 countries, Zain operates in: Kuwait, Bahrain, Iraq, Jordan, Saudi Arabia, Sudan and South Sudan. In Lebanon, the Group manages ‘touch’ on behalf of the government. In Morocco, Zain has a 15.5% stake in Wana Telecom, now branded ‘INWI’, through a joint venture. Zain is listed on the Kuwait Stock Exchange.

 

[rightsonword]

I can't wait to see how much the IPO will cost. Here's to hoping low!

[Man_Kind]

ありがとう

[moneysoon]

A previous article seemed to imply that they would be competitively lower than TASC. However this article seems to state that local "small-time" money is not a concern. Once again, I predict that this thing is already ready to be subscribed outside of Iraq. If my memory serves me correct, Microsoft is a partner with Zain. I am going long on this one. I too would like to invest more on BBOB but Zain is on my mind now.

[toes1]

Is or will there ever be a way to invest in this Stateside?

[moneysoon]

Is or will there ever be a way to invest in this Stateside?

 

What do you mean exactly? Through as US Brokerage or simply getting in on this from the States?