Nasdaq Helps Set Up Iraq Erbil Bourse After Qatar Sale

Bloomberg
Thu, Oct 3, 2013

by Khalid Al-Ansary and Nayla Razzouk

Nasdaq is helping to set up a trading system for the Erbil Stock Exchange, which Iraq’s Kurdish region plans to start operating by June.

At least 25 companies will list shares on the Erbil exchange by the end of 2014, according to Abdullah Ahmed Abdulrahman. Trading will begin with an estimated volume valued at 5 billion dinars ($4.3 million) to 6 billion dinars, he said.

“We aim to open a gateway for foreign investors in Iraq,” he said. The Kurdish enclave’s first stock exchange has also signed an 18-month advisory contract with New Jersey-based consultant Louis Berger Group Inc., he said.

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