Iqbal on the Iraqi stock exchange, investment

[Stillw8n]

Iqbal on the Iraqi stock exchange, investment

BAGHDAD – Babinaoz: Iraqi stock market attracts foreign investors increasingly see it as an attractive investment with the expectation of growing demand is expected after insertion of the shares of three companies the main operator of mobile phone services in the country and improve regulation.

Iraqi stock market is still small compared with other stock exchanges in the region and international stock markets, but the drop in violence since the height of sectarian fighting in 2006-2007 and increase the possibility of the rapid growth of interest in them.

He said Taha Abdul Salam, chief executive of the Iraqi Stock Exchange, the values ​​of shares traded this year to Sept. 30 rose to $ 495 million compared with $ 337 million in 2010 as a whole.

The Iraqi Stock Exchange, which began its work in 2004 and now has 86 listed companies a target for private
investment outside the oil industry in a country still dominated by state companies.

Abdel-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.

The company (55 North), based in Russia, a clear example of foreign demand on the Iraqi Stock Exchange.

Said Paul Collison, managing director of the company it plans to create an investment fund worth $ 25 million, where is the maximum you can invest far due to the low level of liquidity in the Iraqi Stock
Exchange.

“It is important to start early … It’s a wonderful opportunity to create a small box.”

Pannu said Sokonan partner in Levi Finish Virtus Capital began investing in the Iraqi Stock Exchange three
years ago that Iraq is a great opportunity to invest where there is still strong competition in the market prices are low.

And operators mobile services three Asiacell of the Qatar Telecom (Qtel) and Korek Telecom, partly owned by France Telecom and Kuwait’s Agility Logistics and Zain Iraq of Kuwait’s Zain obliged to include shares in the Iraqi Stock Exchange under the operating licenses, which cost $ 1.25 billion.

Said Abdul Salam told Reuters 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.

Said Oliver Emanuel Executive Director of Sales and Trading in shares of the Middle East and North Africa to the Morgan Stanley said that the first public offering of shares to be played by mobile operators in Iraq will support the local market significantly.

“We will initial public offerings of shares of telecommunications companies undoubtedly a 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 and the settlement of stock trading 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.

The Sokonan The availability of banking services, conservation can increase the price tag of at least ten fold in the next three years.

Said Abdul Razzaq Saadi Chairman of the JSC, Iraqi rules governing the custody services will be issued in November.

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