Deals
Asiacell Seeks $1.3 Billion in Top Mideast IPO Since 2008
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Asiacell Communications PJSC, the Iraqi telecom operator majority-owned by Qatar Telecom QSC, plans to raise 1.49 trillion dinars ($1.3 billion) in the Middle East’s biggest initial public offering in more than four years.
Some of Asiacell’s founding shareholders will offer 67.503 billion shares, or 25 percent of its equity, at a minimum of 22 dinars a share, the Sulaymaniyah-based company said in an e-mailed statement today. The offer opens on Jan. 3 and closes on Feb. 2 and is open to all individuals and institutions with a trading account in Iraq, according to the statement.