FTI advised Asiacell Communications on its $1.24 billion share offering and listing on the Iraq Stock Exchange, marking the largest equity capital markets deal in the Middle East region since 2008.The transaction, valuing the company at $4.95 billion, was Iraq’s first ever large scale retail share offer. Over $370 million of demand, or 30% of the offering, was created within Iraq with the remainder bought by international investors. The share price rose by 5.6% on the first day of trading.
FTI was appointed by Asiacell in late 2011 to advise and support the company with its domestic and international communications activities throughout the process. FTI created and oversaw the execution of a three-phase integrated domestic and international communications strategy that included developing: