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Iraq's second-biggest mobile operator Asiacell aims to raise $1.23 billion in an initial public offering next month, it said, after pressure from Baghdad's media regulator to be listed on the bourse. The firm, in which Qatar Telecom holds a majority stake, and Iraq's two other mobile phone companies -- Kuwait's Zain and Korek, in which [...]

Iraq mobile firm targets $1.23bn IPO

Agence France-Presse reports:

Iraq's second-biggest mobile operator Asiacell aims to raise $1.23 billion in an initial public offering next month, it said, after pressure from Baghdad's media regulator to be listed on the bourse.

The firm, in which Qatar Telecom holds a majority stake, and Iraq's two other mobile phone companies -- Kuwait's Zain and Korek, in which France Telecom and Kuwait's Agility Logistics have stakes -- were fined for failing to issue IPOs on the Iraq Stock Exchange, Zain said in July.

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