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Asiacell to launch IPO early next month
- Iraq: Tuesday, December 04 - 2012 at 05:49
Iraqi telecom operator Asiacell has said it will launch its long-awaited initial public offering (IPO) on January 3, in what is likely to be the country's largest-ever share sale, Reuters has reported. Asiacell, a subsidiary of Qatar Telecom (Qtel), aims to sell a quarter of its stock in the IPO and will list on the Iraq Stock Exchange on February 3, a company spokesman said. Asiacell and rival operators Zain Iraq and France Telecom affiliate Korek had been required to float a quarter of their shares by August 2011 as part of their $1.25bn licence agreements.
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