Frontier hedge fund investors eye Iraq
A slate of telecoms IPOs and efforts to modernise banking regulations have some frontier market hedge funds enthused about prospects for Iraqi equities as institutional investors sit on the sidelines
After a decade of war and destruction, efforts to restore Iraq’s economy and financial system are gaining traction.
The economy expanded 10.5% last year, more than any other Middle Eastern country, and the GDP growth forecast for 2013 is nearly 13%. The local equity market is also hitting its stride.
Asiacell, the second-largest mobile phone operator in Iraq and a subsidiary of Qatar Telecom, raised nearly $1.3 billion when it listed 25% of its stock on the Iraq Stock Exchange (ISX) in February
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