Abu Dhabi investors shift focus to Zain IPO in Iraq | The National

Abu Dhabi investors shift focus to Zain IPO in Iraq | The National:

"Abu Dhabi investors are considering plans to reduce their holdings in Asiacell, Iraq’s first publicly listed mobile operator, as a second telecoms share sale in the country catches their attention.

The initial public offering of Zain Iraq next year may encourage investors to spread their bets and suck some liquidity from Asiacell in the process, say fund managers.

The National Investor, an Abu Dhabi-based investment bank, reduced its shareholding by about half from its previous investment of US$2 million made immediately after Asiacell’sinitial public offering IPO. Invest AD said it would “probably but not definitely” cut some of its own $2m shareholding to “spread the exposure across the two companies”."

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