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Hue Mi
06-04-2013, 04:58 PM
Kuwait’s Zain to Set Up Iraq Company to Meet IPO Requirements (http://www.bloomberg.com/news/2013-06-04/kuwait-s-zain-to-set-up-iraq-company-to-meet-ipo-requirements.html)

By Fiona MacDonald - Jun 3, 2013 11:41 PM GMT-0800

Mobile Telecommunications Co., Kuwait’s largest mobile operator known as Zain, is setting up an Iraqi company so that its unit Zain Iraq can meet public share sale requirements.

The new company will offer 55.9 million shares at 1 Iraqi dinar for each of its own shares over 30 days starting today to meet local rules, Zain said in a statement to the Kuwait Stock Exchange today. Once the process is complete, the new company will get approval to start the initial public offering, Zain said.

Zain Iraq expects to complete the 25 percent IPO by the end of the year, its Chief Financial Officer Wael Ghanayem said yesterday.

Article continues at

(http://www.bloomberg.com/news/2013-06-04/kuwait-s-zain-to-set-up-iraq-company-to-meet-ipo-requirements.html)http://www.bloomberg.com/news/2013-06-04/kuwait-s-zain-to-set-up-iraq-company-to-meet-ipo-requirements.html

haggisbasher
06-04-2013, 06:22 PM
Another IPO going to be missed out on because Al-Warka Bank is not allowed to trade,this is a big miss for my portfolio.how long is this going to go on for.

chakkarchee
06-05-2013, 05:49 AM
Another IPO going to be missed out on because Al-Warka Bank is not allowed to trade,this is a big miss for my portfolio.how long is this going to go on for.

Can someone explain how come we are able to trade our portfoilio holding inside Warka but not able to trade IPO's , what is the catch ? OR trading within our Warka portfolio is just a mirage.

24mm exposed grid
06-05-2013, 06:34 AM
Can someone explain how come we are able to trade our portfoilio holding inside Warka but not able to trade IPO's , what is the catch ? OR trading within our Warka portfolio is just a mirage.

The 'catch' seems to be that ISX trading within Warka is massively restricted.

Buy orders are limited to 200,000 shares maximum per company. I have now been putting buy orders through for every trading session for almost 3 months and it seems almost impossible to regularly spend more than a few hundred thousand dinar a week. It is worth noting that when I initially started this buying pattern, I was successful in spending 2 million dinar within the first week and then amounts diminished rapidly from there, to a point where the last couple of orders have produced zero results.

24mm exposed grid
06-10-2013, 03:59 PM
An update to previous post.

The last 3 buy orders put through have not even been acknowledged by Warka, never mind executed. How's that for a 'catch' ? Desperately trying to rid myself of my Warka account balance but at this rate, it will take all year & beyond.

RoyalBeluga
06-10-2013, 05:47 PM
The 'catch' seems to be that ISX trading within Warka is massively restricted.

Buy orders are limited to 200,000 shares maximum per company. I have now been putting buy orders through for every trading session for almost 3 months and it seems almost impossible to regularly spend more than a few hundred thousand dinar a week. It is worth noting that when I initially started this buying pattern, I was successful in spending 2 million dinar within the first week and then amounts diminished rapidly from there, to a point where the last couple of orders have produced zero results.

Still very much in the game then 24mm?

English Bob
06-10-2013, 11:32 PM
An update to previous post.

The last 3 buy orders put through have not even been acknowledged by Warka, never mind executed. How's that for a 'catch' ? Desperately trying to rid myself of my Warka account balance but at this rate, it will take all year & beyond.


24mm It's not funny...............

But this raised a smile.............if they back date it

http://americancontractor.com/iraq/iraq-politicians-making-40-million-dollars-daily-from-weak-iraq-dinar

Another noteworthy event in the news is that the Iraq legislature is trying to form an FDIC like we have in the USA (http://americancontractor.com/wp-content/uploads/2013/06/Iraq-Parliament-trying-to-protect-citizens-deposits-al-warka-bank.jpg). This is a result from depositors unable to withdrawal deposits at al-Warka bank. Hopefully in the future, the Iraq parliament will pass a bill and return the depositors money from al-Warka Bank (http://www.warka-bank.com/).


EB

24mm exposed grid
06-14-2013, 05:15 PM
A further update on ISX orders for anyone interested.

Another week gone by, another 2 buy orders gone into Warka, another 2 orders not acknowledged, another 2 orders not filled, but cannot even check that for sure as we have no online access due to 'upgrade.'

I have decided enough is enough, zero service from a bankrupt bank is not acceptable, all stock going over to Al Jazera as of next week. I will attempt to dwindle my remaining Warka account balance down further after that - if not possible, will just have to sit tight on the balance.

ISX Junkie using Aljazera
06-14-2013, 08:35 PM
[QUOTE=24mm exposed grid;5165]A further update on ISX orders for anyone interested.

Another week gone by, another 2 buy orders gone into Warka, another 2 orders not acknowledged, another 2 orders not filled, but cannot even check that for sure as we have no online access due to 'upgrade.'

I have decided enough is enough, zero service from a bankrupt bank is not acceptable, all stock going over to Al Jazera as of next week. I will attempt to dwindle my remaining Warka account balance down further after that - if not possible, will just have to sit tight on the balance.[/QUO

Good for u! Wow I didn't even know that online banking has been down for 1 week. Looks like that option is gone now. Unbelievable how people here still do business with this bank.

ISX Junkie using Aljazera
06-14-2013, 08:37 PM
A further update on ISX orders for anyone interested.

Another week gone by, another 2 buy orders gone into Warka, another 2 orders not acknowledged, another 2 orders not filled, but cannot even check that for sure as we have no online access due to 'upgrade.'

I have decided enough is enough, zero service from a bankrupt bank is not acceptable, all stock going over to Al Jazera as of next week. I will attempt to dwindle my remaining Warka account balance down further after that - if not possible, will just have to sit tight on the balance.

Good for u! Wow I didn't even know that online banking has been down for 1 week. Looks like that option is gone now. Unbelievable how people here still do business with this bank.

24mm exposed grid
06-15-2013, 09:18 AM
I'm trying to establish if it is just me and my constant buying over the past couple of months, that has led Warka to ignore my recent buy orders, or if Warka ISX are simply not open or trading.

Has anyone else in the past couple of weeks had buy orders acknowledged and executed ?

Online banking not functioning for almost two weeks now, ties in with the time that ISX dept stopped acknowledging my orders. Coincidence ???

English Bob
06-15-2013, 12:58 PM
I'm trying to establish if it is just me and my constant buying over the past couple of months, that has led Warka to ignore my recent buy orders, or if Warka ISX are simply not open or trading.

Has anyone else in the past couple of weeks had buy orders acknowledged and executed ?

Online banking not functioning for almost two weeks now, ties in with the time that ISX dept stopped acknowledging my orders. Coincidence ???



AH OH...............Don't sound good 24mm

I was thinking of following your lead and buy some shares.............transfer and sell and get the cash back if that was possible......looks like we are in a dead end with Warka

EB

24mm exposed grid
06-15-2013, 03:21 PM
AH OH...............Don't sound good 24mm

I was thinking of following your lead and buy some shares.............transfer and sell and get the cash back if that was possible......looks like we are in a dead end with Warka

EB
Yep dead end indeed Bob. Warka ISX dept won't let you spend cash in account in any quantity above a few hundred thousand dinar a week and now for me at least, they've stopped doing even that !
Fortunately most of my investment is held in stocks already and I can transfer them out to another broker if need be. I am not looking to cash out just get away from the farce that is Warka !!!!

haggisbasher
06-15-2013, 08:16 PM
i noticed the date on warka news info that it is for the 27th of this month,maybe that is when they intened to finish online upgrade or is this just my wishful thinking again.i have sold over 100m iqd worth of shares over 12 months then rolled a cash cd for a year and kept a load of sharesi think am loosing track of this investment this has to end soon.does'nt it.:confused: