Baghdad Stock Exchange is trading an increasing share of foreign investors

Posted: October 22, 2011 in Iraqi Dinar/Politics
Tags: , , ,

Sat 22/10/2011 6:02

have seen the Iraqi market for securities during the past week shares increasing for foreign investors, at the time of preparing the market for the shares of mobile phone companies three main operating in the country. The managing director of the Stock Exchange, Taha Ahmed Abdul Salam in a press statement

“The values ​​of shares traded in the year to September 30 rose to $ 495 million compared with $ 337 million in 2010 as a whole.”

The local bourse, which began its work in 2004 and are now 86 listed companies a target for private investment outside the oil industry in a country still controlled by state companies.

He said Abdul-Salam said that “foreign investors bought 66 billion shares worth $ 110 million since the beginning of the year until the end of September and they have sold seven billion shares only worth $ 18 million in 2010.”

The trading of foreign non-existent, almost a few years ago.

He described the academic economic Maytham Laibi entry of foreign investors to the Iraqi market for securities first step and important for companies to enter the real investment to Iraq.

and said coffee’s (range economic) “This kind of investment does not require the entry of equipment and engineers, but requires that enters the investors on their own from in order to buy stocks and bonds. “
and added to coffee, “This investment is a speculative investments in stock prices and bond market securities and increase transactions per inch and the demand for securities, which raises the value of these companies.”

For his part, said financial expert Hilal Miller’s (range of economic ) “The share of foreign companies in the Iraqi market for securities in the past does not exceed (3%) of the total market for that has not been affected by the financial crisis that occurred in 2009, which ruled most of the economies of the majority”.

The miller “after stabilizing the security situation in Iraq Encouraged that the entry of some foreign investors in the market which has served to increase competition with Iraqi investors, “
continued Miller, “that this access to serve a particular market and the economy in general and is oriented correctly towards the right investment like the global financial markets,” pointing out that reluctant investors shops younger than increases the demand for buying stocks and bonds.

to the said banking expert Farouk Ramadan’s (range economic) that “the Iraqi market for securities is at the present time of successful markets Foreign investors are flocking to this market to buy stocks and bonds,” noting that the Arab spring effect on the market Finance for most Arab countries, making the Iraqi market booming concrete Achieving financial gain, and transportation to the outside spur investors to enter this market.

The company (55 North), based in Russia is a clear example of the demand for foreign Iraqi Stock Exchange.
The managing director of the company, Paul Collison, it is ” plans to create an investment fund worth $ 25 million, where This is the maximum you can invest now given the level of liquidity, low in the Iraqi Stock Exchange, “adding that” it is important to start early, it is a wonderful opportunity to create a small box. “

Pannu said Sokonan partner in the “Finish Virtus Levi Capital “, which began investing in the Iraqi Stock Exchange three years ago in a press statement, said that” Iraq is a great opportunity to invest where there is no strong competition continues to price in the market low. “

referred to the operators mobile services three Asiacell of the communications Qatar (Qtel), Cork Telecom, partly owned by France Telecom and Kuwait’s Agility Logistics, Zain Iraq of Kuwait’s Zain, bound by the inclusion of shares in the Iraqi Stock Exchange under the operating licenses, which cost $ 1.25 billion.
Abdelsalam said last week that the capital value of the market, which currently stands at Four billion dollars could rise to double once the shares of mobile operators.

The executive director of sales and trading in shares of the Middle East and North Africa to the “Morgan Stanley” Oliver Emanuel, “The IPO of shares which will be played by mobile operators in Iraq will support the local market significantly , “adding that” the offerings initial public of the shares of telecommunications companies will undoubtedly a catalyst for the stock market by attracting more attention from regional and international investors and to help improve liquidity in the market. “

investors said that the application of certain regulatory services such as conservation banking, and the settlement of stock trading can be more open market to more foreign funds.

The application of the settlement of stock transactions that allow non-Iraqi investors for up to two days to arrange the payment after the transaction compared with the current system which forces them to make payment before treatment.

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