Asiacell Communications PJSC, the Iraqi telecom operator being offered in the Middle East’s biggest initial share sale since 2008, has received commitments from sovereign-backed funds, according to the deal’s organizer.
Institutional investors from the Persian Gulf, Europe and the U.S. have registered orders, said Shwan Ibrahim Taha, chairman of Rabee Securities in Baghdad, the sole arranger of the initial public offering. “Some of these funds are sovereign backed,” he said in an e-mailed answer to questions yesterday without naming any of the funds.
Asiacell Lures Sovereign Funds in Biggest Mideast IPO Since 2008 - Bloomberg
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