The stock of Al Khatem Telecom, a subsidiary of Zain Iraq, accounted for 19% of turnover on Iraq Stock Exchange on its first day of trading.
The stock recorded IQD 176.82 million till 11:00am, while the stock market’s total turnover reached IQD 932.57 million.
The stock took the sixth position among top actives in terms of traded volume, upon exchanging 29 million shares, or 4.2% of the market’s total volume reaching 687.24 million shares.
Opening at IQD 4, the stock jumped to IQD 5.99, a rise of 50% or IQD 2.
Kuwait’s telecom group Zain said earlier that 76%-owned Zain Iraq obtained regulatory approval to list on the Iraqi bourse via its subsidiary Al Khatem Telecom.
