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«ACL TOWARDS LISTING ON THE IRAQ STOCK EXCHANGE
Confirmed company Asia Cell Telecommunication contribution - private, the company specialized in the provision of mobile services in Iraq and the number of its subscribers 9.9 million subscribers - its intention to move ahead with the shares (hereinafter referred to as the 'IPO') on the Iraq Stock Exchange. The founding shareholders will be put to ACL, 25% of the shares in the company in the Iraqi market for securities. It is expected to include these shares in the official list of securities by the Securities Iraqi and start trading shares in the market on February 3, 2013. The company said the following:
Highlights
● first launch of its kind and this scale in Iraq.
● Iraq is among the fastest growing markets in the world.
● mobile telecommunications market is growing by leaps and bounds in a country weakened infrastructure for ground lines.
● ACL, is one of the largest operators of mobile services in Iraq, where the subscriber base has growing.
● The company has an extensive network in Iraq covering all eighteen provinces.
● solid financial performance.
● a distinct brand with a good reputation and their offering products to suit the needs of the participants.
● efficient administrative staff.
On his part, said the managing director for Asia-Cell, Mr. Faruk Mustafa Rasool, in commenting on this statement, saying:
Asiacell has enhanced well-established position in Iraq. That our progress over the past few years due to the growth in the Iraqi telecommunications market, which is characterized by networks landline telephone lines is a sophisticated and strong growth in the use of data and voice services in Iraq Kafahonh. The proof of our success is the outstanding financial performance and high margins at the level of the market in the company's profits (EBITDA) as well as we do and praise and appreciation thanks to our excellence in service subscribers and network coverage and innovative products offered to subscribers.
He added: inclusion of our shares will be an important step for the ACL, and we expect to be the first launch of its kind in Iraq this size in a market characterized by growth rates in gross domestic product (GDP), which are among the highest in the world. We believe that we have a good position enables us to take advantage of the growth opportunities afforded by the Iraqi telecom market. And this listing will allow investors in all parts of Iraq to become shareholders in the company and participate in its growth.
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«ACL TOWARDS LISTING ON THE IRAQ STOCK EXCHANGE
Confirmed company Asia Cell Telecommunication contribution - private, the company specialized in the provision of mobile services in Iraq and the number of its subscribers 9.9 million subscribers - its intention to move ahead with the shares (hereinafter referred to as the 'IPO') on the Iraq Stock Exchange. The founding shareholders will be put to ACL, 25% of the shares in the company in the Iraqi market for securities. It is expected to include these shares in the official list of securities by the Securities Iraqi and start trading shares in the market on February 3, 2013. The company said the following:
Highlights
● first launch of its kind and this scale in Iraq.
● Iraq is among the fastest growing markets in the world.
● mobile telecommunications market is growing by leaps and bounds in a country weakened infrastructure for ground lines.
● ACL, is one of the largest operators of mobile services in Iraq, where the subscriber base has growing.
● The company has an extensive network in Iraq covering all eighteen provinces.
● solid financial performance.
● a distinct brand with a good reputation and their offering products to suit the needs of the participants.
● efficient administrative staff.
On his part, said the managing director for Asia-Cell, Mr. Faruk Mustafa Rasool, in commenting on this statement, saying:
Asiacell has enhanced well-established position in Iraq. That our progress over the past few years due to the growth in the Iraqi telecommunications market, which is characterized by networks landline telephone lines is a sophisticated and strong growth in the use of data and voice services in Iraq Kafahonh. The proof of our success is the outstanding financial performance and high margins at the level of the market in the company's profits (EBITDA) as well as we do and praise and appreciation thanks to our excellence in service subscribers and network coverage and innovative products offered to subscribers.
He added: inclusion of our shares will be an important step for the ACL, and we expect to be the first launch of its kind in Iraq this size in a market characterized by growth rates in gross domestic product (GDP), which are among the highest in the world. We believe that we have a good position enables us to take advantage of the growth opportunities afforded by the Iraqi telecom market. And this listing will allow investors in all parts of Iraq to become shareholders in the company and participate in its growth.
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