TeleGeography Logo

Asiacell confirms IPO raised USD1.22 billion

5 Feb 2013

Following widespread press speculation, Iraqi mobile operator Asiacell has issued a press release confirming the successful conclusion of its initial public offering (IPO). The price of the share offer was set at IQD22 (USD0.02) per share, and the sale of a 25% stake raised USD1.22 billion, implying a market capitalisation of USD4.90 billion. According to preliminary information, 70% of the shares were acquired by foreign investors. Shares will now trade on the Iraq Stock Exchange (ISX), under the ticker ‘TASC’.

Iraq, Asiacell

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.

TeleGeography

TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.