Asiacell’s IPO is expected to be fully subscribed when the offer period closes on 2 February, the Iraqi telco announced today.
Asiacell opened its public offering to investors on 3 February, aiming to raise at least US$1.35bn for 25% of its share…
Asiacell’s IPO is expected to be fully subscribed when the offer period closes on 2 February, the Iraqi telco announced today.
Asiacell opened its public offering to investors on 3 February, aiming to raise at least US$1.35bn for 25% of its share capital.
67.503 billion shares, representing a quarter of the company, are available to investors for a minimum of IQD22 (US$0.02) per share and the subscription period is open until 2 February.
“We have […] seen a lot of demand from international institutional investors from countries including the UAE, United Kingdom and the United States,” Faruk M. Rasool, MD of Asiacell, said: “Investors – both in Iraq and internationally – are saying they see this offering as a unique opportunity to buy into an Iraqi success story”.
