Iraqi telecom operator Kalimat plans to launch an initial public offering (IPO) next year and to invest $250 million in 2011, aiming to triple its subscriber base in the war-torn country, its top executive said.
Wilson Varghese, Kalimat chief executive, said the planned IPO should help the company expand as it eyes a nationwide rollout of services by the end of this year.
"The main growth driver for us will be the roll-out across the country and (the provision of) ... value added services that will increase our subscriber base," he told Reuters on the sidelines of a telecoms conference in Abu Dhabi.
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