Baghdad Stock Exchange are trading an increasing share of foreign investors
Saw the Iraqi market for securities during the past week shares increasing for foreign investors, at the time of preparing the market for the shares of mobile phone companies operating in three main country. The managing director of the Stock Exchange, Taha Ahmed Abdul Salam in a press statement
"The values of shares traded in the year to September 30 rose to $ 495 million compared with $ 337 million in 2010 as a whole."
The local bourse, which began its work in 2004 and are now 86 listed companies a target for private investment outside the oil industry in a country still dominated by state companies.
He said Abdul-Salam said that "foreign investors bought shares worth 66 billion $ 110 million since the beginning of the year until the end of September and they have sold just seven billion shares worth $ 18 million in 2010."
It was almost non-existent foreign trading a few years ago.
He described the academic economic Maytham Laibi foreign investors to enter the Iraqi market for securities and important first step for companies to enter the real investment to Iraq.
He said the coffee's (economic term) "This kind of investment does not require the entry of equipment and engineers, it also eliminates to enter their own investors to buy stocks and bonds."
And added to coffee, "This investment is a speculative investments in stock prices and bond market securities and increase transactions per inch and the demand for securities, which raises the value of these companies."
For his part, said financial expert Hilal Miller's (range economic) "The share of foreign companies in the Iraqi market for securities in the past does not exceed (3%) of the total market that has not been affected by the financial crisis that occurred in 2009, which ruled most of the economies of the Great ".
Miller added, "After stabilizing the security situation in Iraq encouraged the entry of some foreign investors in the market which has served to increase competition with Iraqi investors,"
Miller continued, "that this access serves a particular market and the economy in general and the trend is true about the right investment similar to the global financial markets," pointing out that investors are reluctant to small shops, which increases the demand for buying stocks and bonds.
Meanwhile, a banking expert Farouk Ramadan's (range economic) that "the Iraqi market for securities is at the present time of successful markets Foreign investors are flocking to this market to buy stocks and bonds," noting that the Arab spring effect on the financial markets of most Arab countries, which make the market Iraq's booming Achieving tangible financial gain and transferred to overseas investors, stimulate the entry of this market.
The company (55 North), based in Russia, a clear example of foreign demand on the Iraqi Stock Exchange.
The company's managing director, Paul Collison, it "plans to create an investment fund worth $ 25 million, where This is the maximum you can invest now given the level of liquidity, low in the Iraqi Stock Exchange," adding that "it is important to start early, it is a wonderful opportunity to create a small box" .
Pannu said Sokonan partner in the "Finish Levi Virtus Capital", which began investing in the Iraqi Stock Exchange three years ago in a press statement, said that "Iraq is a great opportunity to invest where there is no strong competition remains low prices in the market."
Referred to the operators mobile services three Asiacell of the Qatar Telecom (Qtel), Cork Telecom, partly owned by France Telecom and Kuwait's Agility Logistics, Zain Iraq of Kuwait's Zain, is bound to include shares in the Iraqi Stock Exchange under the operating licenses, which cost $ 1.25 billion.
Abdel-Salam said last week that the capital value of the market, which currently amounts to four billion dollars could rise to double once the shares of mobile operators.
The executive director of sales and trading in shares of the Middle East and North Africa to the "Morgan Stanley" Oliver Emanuel, "The IPO of shares which will be played by mobile operators in Iraq will support the local market significantly," he said, adding that "the offerings initial public of the shares of telecommunications companies will undoubtedly catalyst for the stock market by attracting more attention from regional and international investors and to help improve liquidity in the market. "
Investors said that the application of certain regulations, such as conservation banking services, trading and settlement of shares can be more open market to more foreign funds.
The application of the settlement of stock transactions that allow non-Iraqi investors for up to two days to arrange the payment after the transaction compared with the current system which forces them to make payment before treatment.
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