(Independent) … the launch of the third generation (G3) earlier this year promising growth opportunities appear in Bgdadonht Zain Telecom Group all listing procedures and begin trading on the shares of the ring company – owner of the company was raised Telecom Iraq which operates under the Zain name, responsive all its obligations to regulators and on the telecommunications sector in Iraq.
And it revealed the group in a press release I followed (Independent) that successful insertion process that has within two months notice, came in implementation of the Convention on the joint memorandum between both Almsahh ring Company (parent company raised Telecom Pvt Ltd, which operates under the Zain in Iraq and the media and communications Name Iraq and the Iraqi stock market and the Iraq Stock Exchange and the center of the Iraqi deposit.
The group reported that the ring company actually began trading in its shares in the Iraqi market for securities starting from yesterday, and become open to public investment.
She stated that Zain is working in Iraq since 2003 and has invested more than $ 5 billion so far, in the creation of basic infrastructure for mobile communications in all parts of Iraq, as they employ nearly 2500 Iraqi employees.
Group indicated that in line with the terms and conditions of the operating license granted to the ring, the 25 percent of the shares were offered for sale in the market on the part of one of the founding shareholders, we have seen first day of trading buying and selling operations and the stock was 6.09 dinars rate after closing at the price of 5.99 dinars Iraqi, which unlike market value of the ring valued at 10.96 trillion Iraqi dinars ($ 9.4 billion).
The chief executive of the Iraqi Stock Exchange market Taha Abdul Salam, said that the success of any economy depends on its ability to absorb employment and investment of the national capital and foreign, within the framework of joint-stock companies that increase capital formation to him, and the contribution of the private sector in GDP.
He added that the establishment of companies and mechanism incorporated and traded in the stock market contribute to strengthen the economy, which is expected from the listing and trading of Telecom ring, which has a capital of one trillion and eight hundred billion dinars and has more than 500 contributor to it.
For his part, Managing Director of the ring, Deputy Prime Zain Bader Nasser Al-Kharafi Group “management Padrajna said of the shares of the largest telecommunications company ring company in the Iraqi market, we may have a big step towards our commitments in the Iraqi market, which we have sought the enthusiastically to that offer real value in the Iraqi telecom sector. “
Al-Kharafi expressed his happiness successfully insertion process and the start of trading on the ring, which has succeeded in applying the terms and conditions contained in their license agreement, thanking regulators, and regulatory bodies in Iraq, on the extreme professionalism throughout all stages of the listing process.
And eighth-Kharafi support and transparency which the grandmother company through an end to the insertion process measures, noting that the company offers investors the opportunity to participate in one success of the leading telecommunications companies in Iraq and the Middle East, and crossing them toward the next phase of development and growth in this promising market.
Al-Kharafi stressed that Zain Group will continue to provide support and support to the local management team in Iraq, in order to maintain the market leadership enjoyed by its operations in Iraq, and that this team carries with it the achievements of bus successes records.
He said Al-Kharafi, the growing Zain in infrastructure to its network constantly investments, consolidates the leadership in the Iraqi market, noting that the successful launch of services third-generation (G3) earlier this year, demonstrates the strategic vision for the sector of the Iraqi communications, and is owned by the promising growth opportunities, to Despite the challenges of the security situation.
Zain said it can for all who are interested in trading shares ring Company investors to do the procedures of purchase orders through contact any of the authorized dealers listed the Iraq Stock Exchange Stock Exchange. (End)