In the past few days the news media reported un-named sources at one of the mobile operators in Iraq alleging that the ISX would not be able to handle the volume of trade as a reason for them not to list.
twenty-one Companies Law number 2 004 for clearly states the rules for establishment of joint stock companies in Iraq. The mobile operators have not taken the necessary steps to change their status from limited liability company to joint stock company .
The ISX deploys the Nasdaq OMX system and is it capable to handle large volume transactions. There is also enough Liquidity in Iraq and a good interest by international funds to make a listing of any size a success, the Liquidity of the market today is only limited by the availability of companies on the exchange, therefore it is Illogical for any company to claim there is no liquidity before trying to list on the exchange. The mobile operators by delaying their listing, are harming the investor and the citizens who would wish to invest and participate in their companies.
We wish for the mobile operators to fulfill all the necessary requirements for listing. Here at the ISX we are at the service of any company that has all the necessary requirements and wishes to list. Taha Abdulsalam AL-Rubaye Chief Executive Officer . Iraq Stock Exchange