"Kuwait telecom operator Zain will set up a holding company through which it will offer a quarter of its stake in its Iraqi unit to the public, it said on Tuesday.
Zain Iraq must float a quarter of its shares and list on the Iraq Stock Exchange (ISX) as part of its $1.25 billion licence, as were Iraq’s two other national operators.
Under plans announced on Tuesday, Zain will set up a holding company, named “Khatam Communications” to hold its Iraqi operations and will offer 55.9 million shares at one dinar each in the firm. The offer period starts on June 4 and will run for 30 days, Zain said in a bourse statement."
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