Asiacell’s $1.3bn IPO fully covered

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Asiacell’s $1.3bn IPO fully covered

An ID1.485tr ($1.3bn) IPO of Asiacell, Iraq’s second-largest mobile operator, is comfortably covered ahead of its close at the end of the week. The deal, the biggest in the Middle East since 2008, could — briefly — put bookrunner Rabee Securities third in Europe, Middle East and Africa ECM activity in 2013.

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