Zain Iraq Invests $20m To List On Stock Exchange

The Iraqi unit of Kuwait mobile phone operator Zain has said it has invested some $20m in its efforts to list on the local stock exchange, Reuters has reported.

Iraq’s biggest mobile phone company is required to list on the Iraq Stock Exchange (ISX) as part of its $1.25bn operating licence that was obtained in 2007, said Emad Makiya, chief executive of Zain Iraq.

“We have invested a lot of money. We have invested over $20m in this. We have hired lawyers, we have brought (in) bankers,” Makiya told the news service. “There are so many processes involved, so many things. It is not as easy as you think.”