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Asiacell launches offer of 25pc share capital

Sulaymaniyah, Iraq, January 3, 2013

Asiacell Communications, a leading provider of mobile telecom services in Iraq with 9.9 million subscribers, has opened for subscription 67.5 billion shares, representing 25 per cent of the company’s share capital.

The offer is open until February 2 to all investors who have a trading account with one of the registered brokers with the Iraq Stock Exchange (ISX), a statement said.

There is no minimum number of shares that investors can subscribe to. Asiacell will be trading on the ISX under the ticker “TASC” on February 3.

Faruk M Rasool, managing director of Asiacell, said: “It’s an exciting day for us all – we are inviting all Iraqis – whether they wish to buy small or large number of shares – to own a part of Asiacell, a truly Iraqi success story.

“We are building on very solid foundations and our plan is to continue to offer our subscribers ever better quality network coverage, the best customer service and innovative features. We want to share our future growth with an expanded group of Iraqis.”

Investors can subscribe by placing a buy order to acquire shares at IQD 22 ($0.018) per share.

Rabee Securities, Iraq’s premier independent brokerage, is acting as sole distributor and selling agent, while and Melak Iraq, an Iraqi financial advisory firm, is sole adviser to the company in respect of the offer. – TradeArabia News Service




Tags: Iraq | Asiacell | subscription | share capital | Mobile telecom |

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