Global holds a seminar for Iraq Holding Company

Attending the seminar were, Mr. Mohammed AlNaki, IHC Chairman, Mr. Hussain Helmi, Finance and Admin Manager at IHC, and from Global Mr. Omar M. El-Quqa, Executive Vice President, and Mr. Mohamed Abdul Aziz, Financial Analyst, where they gave a detailed explanation of the company's operations and financial data.

Mr. El-Quqa spoke briefly about the company's history and the nature of its work, then he addressed Global's role in listing IHC on KSE, which it perceives as a major step that adds transparency and clarity to the newly listed stock, raising the traders' level of confidence in the security and the stock market.

"Global and the listed companies hope to add more variety and investment options to the stocks market to enhance and invigorate the capital market in the country, which is ripe for more listings," he followed.

He pointed that the listing process and the accompanying regulations raise the transparency level of the listed security and, in effect, elevate the relationship between the stock traders and security to international standards.

Mr. AlNaki thanked Global for managing the listing process professionally. He then talked briefly about the IHC and its investment objectives, in addition to its ongoing and upcoming projects.

A video presentation on IHC followed Mr. AlNaki's brief.

Afterwards, Mr. Abdulaziz of Global spoke about investing in Iraq and IHC's financial statues. He said that despite all the recent political and economical developments, IHC acquired a major share in the Bank of Baghdad and AlAmeen Insurance Company. the company manages a USD 2 million portfolio comprised of companies listed in Iraq Stock Exchange.

At the end, Mr. El-Quqa pointed that the new company symbol will be "Iraq Hold" on KSE. He thanked IHC for choosing Global as their listing advisor, and thanked the Ministry of Commerce and Industry and the KSE for their cooperation in making the listings process a success.

IHC was incorporated in 1998. In 2003, the Company raised the authorized capital to KD 60 million. IHC's objective is to partner with Iraqi entities in creating and capitalizing on opportunities of mutual benefit. The company has undergone a capital increase in June 2003 through the issuance of 595 million share, to reach 600 million shares with a capital of KD 60 million. The paid up capital the company is KD 12.4 million.

IHC's mission is to partner with Iraqi companies in creating and capitalizing on opportunities of mutual benefit in various sectors such as banking, insurance, cement industries, logistics, telecommunication, consumer and housing finance, private education, healthcare and entertainment, among others. IHC owns 24% of Bank of Baghdad, the country's second largest private bank, IHC has also acquired a significant stake in a major local private Iraqi listed insurance company, AlAmeen Insurance CO.