Iraq's $1.35bn Asiacell share offer sold out
Baghdad, February 3, 2013
A $1.35 billion sale of shares in Iraqi mobile telephone firm Asiacell, the country's first major public offer of equity since the US-led invasion in 2003, was fully subscribed, the stock exchange said on Sunday.
Taha Abdulsalam, chief executive of the Iraq Stock Exchange, told Reuters that orders had been received for all 67.5 billion shares on offer, comprising 25 percent of the company's share capital.
The shares were sold at 22 Iraqi dinars ($0.02) each. Public trade in the shares had been expected to start on the exchange on Sunday, but it will begin on Monday, exchange officials said. - Reuters
More IT & Telecommunications Stories
- Golden Systems wins ‘Best Contribution’ award
- Microsoft announces IT contest winners
- Info2cell.com to expand medical app scope
- StorIT wins top distributor award
- Ajman free zone signs deal with Arabisk Network
- Zain eyes IT acquisitions to boost data services
- Canon wins honours at TIPA Awards
- Viva Kuwait signs $270m loan with NBK
- Etisalat launches new roaming packages
- Software acquires Alfabet