For the first time in Iraq
Iraq, Sulaimanya: In yet another pioneering achievement, Asiacell-- a leading provider of quality mobile telecommunications services in Iraq, with over10 million subscribers -- received the "The Best Equity Capital Market Deal Award " during the TMT Finance Middle East & North Africa 2013 Conference held in April 23rd in Dubai.
Recently Asiacell raised 1.49 trillion dinars ($1.22 billion), the most for an IPO in Iraq and the largest in the history of Iraq and biggest in the Middle East and North Africa since Saudi Arabian Mining Co. (MAADEN)'s share sale in 2008, according to data compiled by Bloomberg.
Commenting on this achievement, Faruk Mustafa Rasool, Asiacell Chairman said: "I'd like to congratulate all our employees and shareholders for winning the TMT Finance 2013 Award. The Asiacell IPO has almost doubled Iraq's exchange's market cap and given equities investors exposure to Iraq's fast growing and highly profitable telecoms sector for the first time. Asiacell's IPO has brought tremendous benefits that actively assist in boosting Iraqi economy, and demonstrates support for the Iraqi society in general. As we continue to develop more life-enhancing services across Iraq, we expect that more of our initiatives will be recognized in the future."
"We are strong believers in the power of mobile technology to impact the country economically, and are pleased by the high number of subscribers have signed up for our IPO", said Rasool.
TMT Finance is an international body that provides specialist news, research and high end networking and knowledge sharing events for senior executives from the telecom, finance and professional advisory community globally. TMT Finance Awards are judged on pre-selected criteria of key drivers and key performance indicators, with final adjudication by an independent Panel of Judges.
About Asiacell:
Asiacell is a leading provider of quality mobile telecommunications services in Iraq, with over10 million subscribers. Asiacell was the first mobile telecommunications provider in Iraq to achieve nationwide coverage, offering its services across all of Iraq's 18 governorates including the national capital Baghdad and all other major Iraqi cities. Asiacell's network covers 97% of the Iraqi population, making Asiacell's national coverage the most extensive of any Iraqi mobile telecommunications operator. In 2012, Asiacell was recognized by the French market research firm Altai as being Iraq's leading brand - not only in the mobile telecommunications market but across all industry sectors - a reflection of Asiacell's strong brand recognition and its established reputation for quality, reliability and service. In 2011, the Iraqi Ministry of Communications (MOC) recognized Asiacell as the "best GSM operator" in Iraq. Recording an outstanding achievement in 2013, Asiacell won mWomen award from GSMA in the category of best telecommunication service designed to women in the emerging markets through providing Almas line for Iraqi female subscribers , a victory was proceeded at Mobile World Congress's Global mobile Awards Ceremony in Barcelona, Spain.
This press release was issued by Asiacell. For more information, please contact us at:
Awat Ali
009647701180551
Public Relations & Media Department
Email: awat.ali@asiacell.com
© Press Release 2013
