Arab Today, arab today ceo zain iraq invests 20 million to list
Last Updated : GMT 00:37:18
Arab Today, arab today
Arab Today, arab today

CEO: Zain Iraq invests $20 million to list

Arab Today, arab today

Arab Today, arab today CEO: Zain Iraq invests $20 million to list

Baghdad - Agencies

Zain Iraq, the country\'s biggest mobile phone company, has invested about $20 million in its efforts to list on the local stock exchange, its chief executive said on Thursday. The Iraqi unit of Kuwait mobile phone operator Zain is required to list on the Iraq Stock Exchange (ISX) as part of its $1.25 billion operating licence, obtained in 2007. Rivals Asiacell, owned by Qatar Telecom, and Korek, in which France Telecom and Kuwait\'s Agility have stakes, are also required to list and have said they are working towards flotation. All three companies missed an initial deadline of August 2011. \"We have invested a lot of money. We have invested over $20 million in this. We have hired lawyers, we have brought (in) bankers,\" Emad Makiya, chief executive of Zain Iraq, told Reuters. \"There are so many processes involved, so many things. It is not as easy as you think.\" The first step for the three operators is to convert to shareholder-owned companies and then obtain approval from the ISX board and Iraq\'s securities commission. So far, only Asiacell has transferred into a shareholders\' company, the ISX chief executive said in April. Zain has appointed BNP Paribas, Citigroup and National Bank of Kuwait to run its offering. Iraq did not have a mobile phone market under Saddam Hussein and the sector has boomed since his fall from power in 2003, offering double-digit subscriber growth. It is the fastest growing industry in the war-battered country after oil. Successful stock market listings for the three mobile operators would be seen as a triumph in efforts to create a diversified economy in a country still dominated by state-run companies. Zain, which has about 12.5 million subscribers, announced on Thursday that it had dropped prices for all its tariffs in Iraq, lowering the price for all calls made between 8am and midnight by 30 percent. Makiya said he was hopeful the mobile phone company would be granted a 3G operating licence this year and said that it planned to market more aggressively in the autonomous northern Kurdish region, where it lags behind its competitors. \"Our entry into Kurdistan was a bit late, but that doesn\'t mean we are going to stop investing,\" he said. Zain started operating in Iraqi Kurdistan in early 2011.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ceo zain iraq invests 20 million to list Arab Today, arab today ceo zain iraq invests 20 million to list

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday