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Zain IPO plans run into further delays

29 Jan 2014

Zain Iraq is still several months away from being able to list its shares on the Iraq Stock Exchange (ISX), Reuters reports, citing comments from the bourse’s chief executive, Taha al-Rubaye. He commented: ‘I believe they will do it this year, but I don’t know when.’ For its part, Zain representatives told the news agency: ‘We will advise all stakeholders of ongoing progress and milestones when they occur. We are confident of listing [holding company] Al-Khatem during the course of 2014.’

According to TeleGeography’s GlobalComms Database, in June 2013, in preparation for its IPO, Zain confirmed that it was in the process of setting up a holding company, named Al-Khatem Communications, which would offer 55.9 million shares priced at IQD1 (USD0.00085) each.

Iraq, Zain Iraq

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