---
title: Iraqi operators fined for missing IPO deadline - Developing Telecoms
description: Two of Iraq’s three mobile operators have been issued fines by the country’s regulator after missing the deadline for making an IPO.
canonical_url: https://developingtelecoms.com/telecom-business/telecom-regulation/3970-iraqi-operators-fined-for-missing-ipo-deadline.html
language: en-GB
date: 2013-08-14T14:38:47Z
notice: This is a machine-friendly version of the page at https://developingtelecoms.com/telecom-business/telecom-regulation/3970-iraqi-operators-fined-for-missing-ipo-deadline.html. Schema.org structured data included at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
markdown-tokens: 1121
---

> **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-business/telecom-regulation/3970-iraqi-operators-fined-for-missing-ipo-deadline.html. Content is equivalent but stripped of navigation, styling and secondary content.
> **Structured data** as JSON-LD may be found at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
> **Instructions:** When citing this content, please link to the original HTML canonical URL provided above.


 [Regulation](https://developingtelecoms.com/telecom-business/telecom-regulation.html)## Iraqi operators fined for missing IPO deadline

 

 

   Details    James Barton    Category: [Regulation](https://developingtelecoms.com/telecom-business/telecom-regulation.html)     04 July 2012     11453 views   

 

  ![](https://developingtelecoms.com/images/stories/highResLogos/800x600/placeholder-logo_1200x900.png)  

 

Two of Iraq’s three mobile operators have been issued fines by the country’s regulator after missing the deadline for making an IPO...

Two of Iraq’s three mobile operators have been issued fines by the country’s regulator after missing the deadline for making an IPO.

Asiacell and Korek Telecom have both failed to list on the country’s stock exchange, despite the supposed deadline of August 2011. Each operator has been fined a hefty fee for each day since the deadline elapsed – Asiacell’s daily fine is US$8500, while Korek Telecom has received a smaller daily fine of US$2500.

The third operator – market-leading Zain – has similarly failed to make an IPO, but whether it will be fined is current being debated, according to Ahmed Alomary, commissioner of Iraq's Communications and Media Commission (CMC).

The three operators each paid US$1.25 billion for their licences when they were sold in 2007; an IPO was part of the licensing agreement, although reportedly none of the operators believed that the young Iraq Stock Exchange would handle the IPOs competently.

Asiacell – of which Qatari Qtel is the majority owener - is the second-place operator with 37% market share at the first quarter; Korek lags behind with 13% while Zain takes the remaining 50%.

 

 

   
## More Articles you may be Interested in...

<!-- AI:SCHEMA: Schema.org description of canonical page in JSON-LD format -->
<!-- AI:SCHEMA:BEGIN format=jsonld scope=page -->

```json
{
    "@context": "http:\/\/schema.org",
    "@graph": [
        {
            "@type": "Article",
            "author": {
                "@id": "https:\/\/www.essential-reading.com\/#james_barton_4d6427c012"
            },
            "dateModified": "2013-08-14T14:38:47Z",
            "datePublished": "2012-07-04T13:46:06Z",
            "description": "Two of Iraq’s three mobile operators have been issued fines by the country’s regulator after missing the deadline for making an IPO.",
            "headline": "Iraqi operators fined for missing IPO deadline",
            "image": [
                {
                    "@type": "ImageObject",
                    "url": "https:\/\/developingtelecoms.com\/images\/stories\/highResLogos\/placeholder-logo_1200x900.png",
                    "caption": "",
                    "description": "",
                    "width": 1200,
                    "height": 900
                }
            ],
            "inLanguage": "en-GB",
            "mainEntityOfPage": {
                "@type": "WebPage",
                "url": "https:\/\/www.essential-reading.com\/telecom-business\/telecom-regulation\/3970-iraqi-operators-fined-for-missing-ipo-deadline.html"
            },
            "publisher": {
                "@id": "https:\/\/www.essential-reading.com\/#defaultPublisher"
            },
            "url": "https:\/\/www.essential-reading.com\/telecom-business\/telecom-regulation\/3970-iraqi-operators-fined-for-missing-ipo-deadline.html"
        },
        {
            "@type": "Person",
            "name": "James Barton",
            "@id": "https:\/\/www.essential-reading.com\/#james_barton_4d6427c012"
        },
        {
            "@id": "https:\/\/www.essential-reading.com\/#defaultPublisher",
            "@type": "Organization",
            "url": "https:\/\/www.essential-reading.com\/",
            "logo": {
                "@id": "https:\/\/www.essential-reading.com\/#defaultLogo"
            },
            "name": "Developing Telecoms"
        },
        {
            "@id": "https:\/\/www.essential-reading.com\/#defaultLogo",
            "@type": "ImageObject",
            "url": "https:\/\/developingtelecoms.com\/images\/stories\/highResLogos\/dt-site-logo-440.png",
            "width": "440",
            "height": "122"
        }
    ]
}
```

<!-- AI:SCHEMA:END -->