Tuesday, Feb 22, 2011
BEIRUT (Zawya Dow Jones)--The Erbil province, in Iraq's Kurdistan, is preparing to start trial operations at its new bourse and companies in the region are planning to launch initial public offerings, pan-Arab Al Hayat daily reports Tuesday citing officials.
Korek Telecom, Asiacell, and other local companies are seriously considering going public, Mohammed Rauf, trade minister of the Kurdistan regional government said according to the paper.
All Iraqi companies meeting the listing requirements will be allowed to list their shares on the new bourse, Rauf said, adding that foreigners will be able to trade on the bourse once they fulfill certain conditions, the daily reports.
Nabil Al Athari, the director in charge of the bourse project, said according to Al Hayat, that efforts are underway to speed up the creation of a company to operate the bourse whose initial capital is $10 million.
Newspaper website: http://international.daralhayat.com/internationalarticle/236801
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
22-02-11 0751GMT
