First IPO on Iraqi Stock Market Since Invasion Is a Whopper: $1.3 Billion for Asiacell
This story by Stephanie Gruner Buckley originally appeared on Quartz. Iraqi mobile phone operator Asiacell is seeking to raise some $1.3 billion on the Baghdad stock market in the first major IPO since the 2003 US-led invasion. Company and government leaders are championing what will be the nation’s biggest initial public equity offer ever hoping to raise money as well as energize the market attract foreign funds and shore up investor confidence after a decade of strife and instability. Asiacell will offer 25% of its share capital on the Baghdad exchange through a subscription period opening today and closing in February. (Qatar ...
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