Kuwait seminar for Iraq investment group

Kuwait seminar for Iraq investment group
Published: 26 December 2005

Kuwait seminar for Iraq investment group

Global Investment House (Global) has held a special seminar at the Kuwait Stock Exchange (KSE) on listing Iraq Holding Company (IHC). Attending the seminar were, Mr. Mohammed AlNaki, IHC Chairman, Mr. Hussain Helmi, Finance and Admin Manager at IHC, and from Global Mr. Omar M. El-Quqa, Executive Vice President, and Mr. Mohamed Abdul Aziz, Financial Analyst, where they gave a detailed explanation of the company’s operations and financial data.

Mr. El-Quqa spoke briefly about the company’s history and the nature of its work, then he addressed Global’s role in listing IHC on KSE, which it perceives as a major step that adds transparency and clarity to the newly listed stock, raising the traders’ level of confidence in the

IHC was incorporated in 1998. In 2003, the Company raised the authorized capital to KD60 million. IHC’s objective is to partner with Iraqi entities in creating and capitalizing on opportunities of mutual benefit. The company has undergone a capital increase in June 2003 through the issuance of 595 million share, to reach 600 million shares with a capital of KD60 million. The paid up capital the company is KD12.4 million.

IHC’s mission is to partner with Iraqi companies in creating and capitalizing on opportunities of mutual benefit in various sectors such as banking, insurance, cement industries, logistics, telecommunication, consumer and housing finance, private education, healthcare and entertainment, among others. IHC owns 24 per cent of Bank of Baghdad, the country’s second largest private bank, IHC has also acquired a significant stake in a major local private Iraqi listed insurance company, AlAmeen Insurance Company.