Iraq Stock Market Report

 

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd November 2011).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at ID1,422 / $1,533, -7.7%. The number of weekly traded shares was 16.5bn and the weekly trading volume was ID24.8bn ($20.5mn).

Note: Iraq Stock Exchange (ISX) will be closed from November 4, 2011 (Friday) to November 12, 2011 (Saturday) due to the religious holiday, Eid al-Adha. The first trading session will be on November 13, 2011 (Sunday).

ISX Company Announcements

  • Modern Chemical Industries (IMCI) will hold AGM on November 29, 2011 to discuss 2010 financial statements and cash dividend ratio. ISX will suspend trading of IMCI starting on November 22, 2011.
  • Mesopotamia Investment (VMES) will hold AGM on November 23, 2011 to discuss 2010 financial statements. ISX will suspend trading of VMES on Nov. 16, 2011.
  • AL-Badia General Trans. (SBAG) resumed trading on November 3, 2011 after increasing its capital from ID1.35bn to ID1.80bn through bonus issue. SBAG closed the day at ID10.5 price per share, down 8.22%.
  • Iraqi for Carton Manufactories (IICM) resumed trading on November 2, 2011. and closed the day at ID1.22 price per share, up 2.5%.
  • On October 31, 2011, a cross transaction occurred on 9.99bn Economy Bank for Investment (BEFI) shares.
  • ISX Board of Governors decided in their meeting which was held on October 29, 2011 to delist Warka Bank for Investment (BWAI) from ISX according to item (9) of article (5) of instructions # (3) {The ISX Board of Governors have the right of delisting a company, if it is out of trade for more than 6 months without taking any action}. BWAI is out of trading since Feb. 8th, 2010.
  • ISX Board of Governors decided in their meeting which was held on October 29, 2011 to delist Tourist Village of Mosul Dam (HTVM) due to the losses and deficit, occurred from 2001 to 2010 except 2007, which have reached 151% of its capital. According to article (76) of companies law # (21) of 1997 {Any company which has losses reaching 75% of its capital, should either reduce its capital or closed out it}. HTVM has taken no action to solve this situation

For the full RS Weekly Bulletin in PDF go to our website www.rabeesecurities.com.

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