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Zain Iraq preparing for IPO launch – report

The Iraqi unit of Kuwaiti telecoms firm Zain is preparing to launch an initial public offering (IPO) to comply with the terms of its mobile license, Arabic Al-Qabas has reported, citing an unnamed source. "Officials in Iraq will be informed about Zain's readiness and (the firm will) enquire whether or not the current time is appropriate for the economy," the Kuwaiti daily said. The offering is expected to value a 20% stake at $80m, the source said.