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  1. #1
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    Asiacell announces offer share price

    Asiacell announces offer share price

    Asiacell Communications PJSC, a provider of quality mobile telecommunications services in Iraq with 9.9 million subscribers, announced further details about its upcoming landmark share offer.

    The Offer, which is expected to be the first of its kind in Iraq and one of the biggest share offers in the Middle East region in the past year, will consist of 67.503 billion shares, representing 25% of the Company’s share capital. The shares will be offered at a price of a least IQD22 per share.

    A number of Asiacell’s founding shareholders will offer existing shares, representing 25% of the Company’s share capital, to individual and institutional investors that have a trading account within Iraq.
    The Offer will open for subscription on Thursday 3rd January 2013 and will close on Saturday 2nd February 2013. The admission of these Shares, representing 25% of the Company’s existing share capital, to the Official List of Securities maintained by the Iraq Securities Commission (ISC) and to trading on the Iraq Stock Exchange (ISX) is expected to commence on Sunday 3rd February 2013.

    Commenting on the announcement, Mr. Faruk M. Rasool, Managing Director of Asiacell, said, “This is another step closer to our share offer which is a significant development for us as a company. We’ve built a stable and growing business across Iraq and we’re delighted to be able to provide the chance for all Iraqis to participate in our future by taking a stake in Asiacell. We’re confident in our future as Iraq’s mobile industry continues to grow and we look forward to welcoming a new set of investors in 2013.”

    How to participate
    The offer is open to all investors, individuals and institutions, provided they have a trading account in Iraq.
    Investors who would like to participate in the Asiacell Offer should contact a broker registered with the ISX (the “Brokers”) and obtain and read in full the Offer leaflet which is available from the Brokers and from Asiacell stores. Investors can subscribe by placing a purchase order to acquire Shares at a price of at least IQD [22] per share, between the 3rd January and the 2nd February 2013, with one of the Brokers.

    Investors can follow these simple steps:
    1. Open a trading account with one of the Brokers. For a full list of Brokers, see the ISX web site www.isx-iq.net.
    2. The Brokers will be able to provide investors with a buy-order form which must be completed in full and returned to the Broker.
    3. Full payment for the Shares must be made with the submission of the buy-order form.
    Advisers

    Rabee Securities, Iraq’s – premier independent brokerage, is acting as sole distributor and selling agent and Melak Iraq, an Iraqi Financial Advisory Firm, is sole adviser to the Company in respect of the Offer.

    http://www.ameinfo.com/asiacell-anno...e-price-324116
    Last edited by WhiteFeather; 12-30-2012 at 05:48 PM. Reason: share price 22 Iraqi dots for Fishindinar

  2. #2
    Supporter and Investor! calstar's Avatar
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    Thanks WF. I received my forms about one month ago from Credit Company. Credit Company brokers Credit Bank of Iraq thru NBK.

  3. #3
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    Wow it only cost one dot per share.
    " Never forget everything Hitler did in Germany was legal " ---Martin Luther King jr.---

  4. #4
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    Quote Originally Posted by Fishindinar View Post
    Wow it only cost one dot per share.
    Thats 22 Iraqi Dots for you.

  5. #5
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    well @ 22 IQD per share, and with 200,000 min share order (typically) thru Warka, that means you need to float 4.4 million IQD ( around $4,400.00 ) for an initial 200,000 share buy in.

    Gonna have to cash in my pennies to sink that much into Warka aye? thats unless they drop the min share order as they do with some hotel stocks.
    E Pluribus Unum
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  6. #6
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    i shall be hanging of until afterwards, as i think that the share price will drop as asiacell begin to spend bigtime to improve services

  7. #7
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    anyone applied for their asiacell shares yet ?

    cant see any links anywhere, anyone got one ?

  8. #8
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    That would also be my question. Does anybody know how to register for Asiacell shares if Warka is your broker?

  9. #9
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    Yea, switch brokers.
    " Never forget everything Hitler did in Germany was legal " ---Martin Luther King jr.---

  10. #10
    Supporter and Investor! calstar's Avatar
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    I'll wait for Warka. I would like to get Zain telecom shares once they get on the ISX.

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