Rabee Securities in Brief

For Iraqi firms & Entrepreneurs, RS offers disciplined strategic and financial advice to local firms and entrepreneurs to assist them in assessing opportunities as they look to streamline, expand, or diversify their businesses and capitalize on value-creation opportunities. RS assists Iraqi firms and entrepreneurs in a range of assignments including business valuations, identification of merger and acquisition targets, identification of potential regional and international partners, sourcing equity capital or debt finance, transaction and investment structuring and advice, listing and support on the Iraq Stock Exchange, and general corporate advise.

For Strategic and Financial Investors, RS offers insight and local knowledge to ensure a tangible route to successfully access and capitalize on credible opportunities in the Iraq market. RS assists strategic and financial investors in a range of assignments including the identification of potential Iraqi partners, identification of local merger and acquisition targets, structuring of Joint Ventures and investment vehicles facilitating market entry (legal, regulatory, tax, and local financing), support in the establishment of local presence, support in navigating through local legal and regulatory matters and general ongoing corporate advise.

RS is the leader in listings of companies in Iraq with listings of 2 telecom companies (Asiacell in 2013 and Al-Khatem Telecoms in 2015).

Asiacell Listing (February 2023)

• RS listed Asiacell on the Iraq Stock Exchange (ISX) in February 2023.
• RS was the Sole Lead Manager and Distributor.
• Mcap of Asiacell at the listing date: $4.8 bn.
• The largest ever listing in Iraq and the largest listing in the MENA region in the last years (at the time of the listing).
• The total market capitalization of the ISX doubled with the listing.

Details of the Listing

• RS successfully listed Asiacell Communications PJSC on the ISX on February 3rd, 2013
• Asiacell started trading on February 4th, 2013, under the ISX ticker “TASC“.
• The minimum subscription price was IQD22. TASC share price increased by 6.7% in the first week of trade.
• In total 67.503 billion shares (25% of the company) were listed and sold, for a total of IQD1,485,066,000,000 (around USD1.2 billion).
• The total number of transactions was 2,900.
• Foreigners bought 70% of the float (47.197 bn shares) and Iraqis 30% (20.306 bn shares).

Al Khatem Telecoms Listing (the sole owner of Zain Iraq) (June 2015)

• RS listed Al-Khatem Telecoms on the ISX in June 2015
• RS was the Selling Agent and Sole Financial Adviser
• Mcap of Al-Khatem Telecoms at the listing date: $8.8 bn
• ISX total market capitalization reached IQD20.2trln ($16.0bn) with the listing of TZNI

Details of the Listing

• RS listed Al Khatem Telecoms (the sole owner of Zain Iraq which is the largest mobile operator in Iraq in terms of number of subscribers) on the ISX on June 23, 2015.
• Zain Iraq is the second Iraqi mobile telecommunications company to list on the ISX through its parent company Al Khatem Telecoms.
• Al-Khatem started trading on June 23, 2015, under the ISX ticker “TZNI”.
• The major shareholders of Al Khatem Telecoms before the listing:
  1) Zain Group with 76.00% share (44.33% + 31.66%);
  -Mobile Telecommunications Company (“MTC”, “Zain”) owns 44.33% share
  -Atheer National Company (a Zain Group Company) owns 31.66% share.
  2) Mohammed Ali Radhi AlCharchafchi, the Chairman of Al Khatem and also Chairman and CEO of Atheer (Zain Iraq) owns 24.00% share.
• Atheer National Company (Shareholder of Al Khatem Telecom (TZNI)) will offer 25% of the capital of TZNI (457,445,663,350) shares and its share in Al Khatem will decrease to 6.66%. (There is no deadline for the selling of 25% of Al Khatem.)

Dar Es Salam Investment Bank Deal (October 2015)

• RS was the Sole Sell Side Advisor for HSBC to divest their majority stake in Dar Es Salam Investment Bank.
• The deal was completed in October 2015 through a sale to a private Iraqi investor.

Deal with Hiwa Rauf (March 2013)

RS was the Advisor and Lead Negotiator for a 220+ room hotel in Suleymani
to be managed by

Double Tree By Hilton

Hilton Worldwide

Other Deals by Rabee Securities

March 2012: Deal With an International Client as the Sole Advisor

RS gave strategic advice and support on market entry.

April 2012: Deal with a Private Iraqi Client as the Sole Financial Adviser

RS gave financial advice, advice for structuring, and preparation for capital raising.

RS acted as principal lender and sole arranger providing working capital facility to support daily operations and facilitate growth plans for an Oil and Gas services Firm.

Case Fluids 

Investor in an Oil and Gas services company providing drilling fluids