02-28-2005, 07:06 PM
...Today's trade session was fuelled by expectations of further steps to liberalize the market. The circulating story is that the Council of Mnisters has sanctioned foreigners buying and selling stocks in the market. A move that has been strongly advocated by the ISX, investors, and corporations, would allow non-Iraqis to buy shares of listed companies up to a limit of 49% of their outstanding shares. The decision, according to sources, places no other restrictions. No official word on this subject has come out yet from the ISX or its regulator body, the Iraqi Securities Commission. Some people believe that implementation of the decision could come very soon...