Highly commended Middle Eastern deal of the year 2013: Asiacell

Asiacell $1.2 billion IPO
Distributor selling agent	Rabee Securities
return to the Deals of the Year 2013 index

Frontier markets are in vogue and there are few markets less tapped than Iraq. It is perhaps fitting, then, that in February 2013 Iraq produced the biggest IPO in the Gulf region since the 2008 global financial crisis: the $1.2 billion listing of mobile phone firm Asiacell.

Mobile telephony is a hot sector, particularly in frontier markets. Asiacell and its peers in Iraq are also regarded as well-run companies – which bodes well for Zain Iraq and Korek Telecom.