Iraq IPOs

By Mark DeWeaver and Ali Albazzaz (l)

The steadily worsening security situation in Iraq has led many to wonder whether the country is once again descending into anarchy. A recent New York Times article, for example, spoke of “new fears that Iraq is returning to the bloody sectarian violence that nearly tore the country apart in 2006 and 2007”.

Going by the news feed, casual and informed observers alike might well conclude this to be a plausible outcome. Yet home-grown Iraq Stock Exchange (ISX) investors – some of the most knowledgeable insiders around – don’t seem to think so. Continue reading »

By Ali Albazzaz and Mark DeWeaver

Among the small but growing band of investors in the Iraq Stock Exchange (ISX), the question most asked is whether 2013 will mark the start of a new bull market.

Two recent developments may help drive significant foreign capital inflows. The first is the much publicised and surprisingly successful IPO of Asiacell Communications, Iraq’s largest mobile phone company, which listed on February 3. The second is the awarding of Iraq’s first custody license, a breakthrough that few were predicting even a couple months ago and few are aware of even now. Continue reading »