Asiacell raised nearly $1.3 billion on Baghdad's small stock exchange Sunday in one of the region's biggest share offers in years. The sale more than doubled the market capitalization of the low-volume stock market from $4.7 billion to $9.65 billion.
Qtel is majority-owned by the Qatari government. It has more than 83 million customers in the Middle East, North Africa and Asia.
Asiacell has nearly 10 million subscribers in Iraq.