Iraq Stock Market Report

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 30th May 2013).

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

The RSISX index ended the week at ID1,733 (-2.7%) / $1,823 (-1.5%) (weekly change). The number of week traded shares was 39.8bn and the weekly trading volume was ID54.6bn ($43.6mn).

ScreenHunter_02 Jun. 01 18.57

ISX Company Announcements

Gulf Commercial Bank (BGUC) will hold AGM* on June 17, 2013 to discuss 2012 annual report, the cash dividend ratio and increasing its capital through 23% bonus and 77% rights issues. ISX will suspend trading of BGUC starting on June 10, 2013.

  • Original shares of Asiacell Communications PJSC (TASC) will resume trading on June 2, 2013 after the decision to distribute 200% cash dividend (IQD2.0 per share) from its 2012 profit.
  • Original shares of Mosul Bank (BMFI) will resume trading on June 2, 2013 after the decision to increase the capital from IQD202bn to IQD252bn through 7.4% bonus and 17.3% rights issues. The opening price will be IQD0.83 per share with +/- 50% limit for the first session.
  • Four cross transactions occurred on Iraqi Islamic Bank (BIIB) on May 26, on May 27, on May 28 and on May 29. These four transactions represent 21.3% of BIIB capital.
  • On May 26, ISX announced that Al-Ameen for Insurance (NAME) would be suspended from trading starting on May 27, if the company fails to explain why the prices have touched the upper limit in the last two trading sessions. On May 27, the company presented a sufficient explanation behind the increase in two consequent trading sessions and wasn’t suspended from trading. The company said that the price has gone up after the company announced its quarterly results. Another reason behind the increase was that the company’s legal department is in the last stages of finalizing the IQD 1.440bn indemnity Lawsuit. Please note, NAME announced IQD254mn profit in 1Q13, up 194% compared to 1Q12.
  • Mamoura Real Estate (SMRI) approved in its AGM to block 5% of the profit to the reserves.
Comments are closed.