President of the Iraqi Stock Exchange is expected to increase the market value doubled
13.10.2011 | (Voice of Iraq) - (Reuters) the chief executive of the Iraqi Stock Exchange doubled the market value of the stock to double to eight billion dollars as soon as the inclusion of the three mobile phone companies operating in the country. and licensing requirements are imposed on three companies listing on the local bourse. The three companies are Asiacell - of the Qatar Telecom (Qtel) - and Korek Telecom - part owned by France Telecom and Agility - and Zain Iraq of Kuwait's Zain. did not turn any of the three companies after a joint stock company, a key requirement and a first step towards a public offering in the Iraqi Stock Exchange . But regulators gave the three companies more time to complete the process which was supposed at the outset to be completed by August 31. The chief executive of the Iraqi Stock Exchange, Taha Ahmed Abdul-Salaam on Wednesday that the current market value of which amounts to four billion dollars could double to double that to be able to mobile phone companies from listing in the coming months. he told Reuters on the sidelines of a conference on the stock held in Erbil in northern Iraq that if they entered the corporate telecommunications sector in the market was the IPO is also expected in a correct and positive, it is expected to double this number to a lesbian that did not not more. In the last week ruled out the official media and communications agency to conduct any operations of an initial public offering until the middle of next year. was not in Iraq, making the mobile phone in the era of former President Saddam Hussein, but the sector has grown rapidly since the US-led invasion in 2003 . And the Iraqi market and one of the few markets in the region is witnessing a growth in subscriber numbers rose in double digits. There are currently about 23 million subscribers in mobile phone services in Iraq, according to the media and communications agency that govern the sector in the country. Abdelsalam said that the current market value, which of four billion dollars already increased from three billion dollars in 2010 due to demand the Central Bank to local banks to increase its capital. The banking sector is the largest sectors in the Iraqi Stock Exchange, which also includes companies in industry, insurance, hotels and agriculture. and turned the Iraqi Stock Exchange from manual trading to electronic trading in 2009 and of trading hours two hours a day five days a week. and started the Iraqi Stock Exchange of its work in 2004 and has 86 listed companies after the inclusion of Bank shares Elaph Islamic recently an area for private investment outside the oil industry in a country still dominated by state-owned companies. Abd al- peace that the value of shares traded as of 30 September this year amounted to $ 495 million compared with $ 337 million in 2010 as a whole. Aseel Kami of
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