It took a bit longer than expected, but Zain Iraq is going public. The telecom company has begun the process that will lead to the floatation of 25 per cent of its shares on the Iraq Stock Exchange. According to a company statement picked up by Global Telecom Business, Zain Iraq ‘would like to mention that it has finished a lap in the process of changing into a shareholder company. It will inform the citizens through the available media means on the dates of the public offering and its conditions.’
Zain Iraq is going public because it’s business licence depends on it. The company is required to go public in exchange for receiving a 15-year national mobile licence for $1.25 bn.
Source: Global Telecom business
Photo: james.gordon6108 via Flickr
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