Iraq, Sulaimanya, April - 2013: In yet another pioneering achievement, Asiacell— a leading provider of quality mobile telecommunications services in Iraq, with over10 million subscribers — received the “The Best Equity Capital Market Deal Award ” during the TMT Finance Middle East & North Africa 2013 Conference held in April 23rd in Dubai.

Recently Asiacell raised 1.49 trillion dinars ($1.22 billion), the most for an IPO in Iraq and the largest in the history of Iraq and biggest in the Middle East and North Africa since Saudi Arabian Mining Co. (MAADEN)’s share sale in 2008, according to data compiled by Bloomberg.

Commenting on this achievement, Faruk Mustafa Rasool, Asiacell Chairman said: “I’d like to congratulate all our employees and shareholders for winning the TMT Finance 2013 Award. The Asiacell IPO has almost doubled Iraq’s exchange’s market cap and given equities investors exposure to Iraq’s fast growing and highly profitable telecoms sector for the first time. Asiacell’s IPO has brought tremendous benefits that actively assist in boosting Iraqi economy, and demonstrates support for the Iraqi society in general. As we continue to develop more life-enhancing services across Iraq, we expect that more of our initiatives will be recognized in the future.”

“We are strong believers in the power of mobile technology to impact the country economically, and are pleased by the high number of subscribers have signed up for our IPO”, said Rasool.
TMT Finance is an international body that provides specialist news, research and high end networking and knowledge sharing events for senior executives from the telecom, finance and professional advisory community globally. TMT Finance Awards are judged on pre-selected criteria of key drivers and key performance indicators, with final adjudication by an independent Panel of Judges.