New board for Zain Iraq's holding firm [Khaleej Times (United Arab Emirates)]
(Khaleej Times (United Arab Emirates) Via Acquire Media NewsEdge) The local holding company of Zain Iraq appointed seven board members and a managing director on Monday, a step towards a mandatory initial public offering expected in 2014.
Zain Iraq, a unit of Kuwaiti operator Zain, and its two rival national mobile operators were required to float a quarter of their shares and list on the Iraq Stock Exchange, or ISX, as part of their 2007 licences, but all missed a 2011 deadline to do so.
Mohammed Charchafchi was elected as chairman, Asaad Al Banwan as deputy chairman and Bader Al Kharafi as managing director.
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