Zain sets up holding firm in Iraq to launch IPO
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Zain sets up holding firm in Iraq to launch IPO

Zain sets up holding firm in Iraq to launch IPO

Kuwait's Zain has said it is set to establish a holding company called Khatam Communications, through which it will offer a quarter of its stake in its Iraqi unit to the public, Reuters has reported. The holding firm will hold its Iraqi operations and will offer 55.9 million shares at one dinar each in the firm. The offer period starts on June 4 and will run for 30 days, Zain said. Once the process is complete, the new holding company will get the necessary approvals to commence the initial public offering of 25% stake in Zain Iraq at a later time, it said.

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