Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th June 2013).

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

The RSISX index ended the week at ID1,792 (+2.8%) / $1,854 (+1.7%) (weekly change). The number of week traded shares was 5.3bn and the weekly trading volume was ID10.3bn ($8.2mn).

ScreenHunter_03 Jun. 09 13.17

ISX Company Announcements

  • Gulf Commercial Bank (BGUC) will hold its AGM* on June 17, 2013 to discuss 2012 financial statements and increasing the capital through 77% rights and 23% bonus issues from IQD125bn to IQD250bn, which is the last target capital set by the CBI for the end of June 2013. BGUC will be suspended from trading starting June 10, 2013.
  • Baghdad for Packing Materials (IBPM) will not be suspended from trading after the price has increased to upper limit in the last two trading sessions, because the company explained that the reason behind the increase is the company’s announcement to increase its capital by a 100% rights issue.
  • Subscription on 540mn Baghdad for Packing Materials (IBPM) shares will start on June 9, 2013 to increase the capital through 100% rights issue to IQD1.08bn.
  • A cross transaction occurred on 96,99mn Dar Es Salam Bank (BDSI) shares on June 4, 2013.
  • The Company Registrar has canceled the subscription on Credit Bank (BROI) shares because of the bank’s violation of article 39 of the Iraq Companies Law. BROI held its GA on June 29, 2012 and decided to increase the capital from IQD100bn to IQD150bn through 40% bonus and 10% rights issues. After that decision, original shares resumed trading on July 11, 2012; however the capital increase procedures haven’t been completed yet.
  • Mamoura Real Estate (SMRI) resumed trading on June 3, 2013 with no change in its capital.
  • New shares of National Bank (BNOI) from the capital increase from IQD100bn to IQD138.9bn through bonus and rights issues resumed trading on June 2, 2013.
  • Original shares of Mosul Bank (BMFI) resumed trading on June 2, 2013 after the decision to increase the capital from IQD202bn to IQD252bn through 17.3% bonus and 7.4% rights issues.

*(Please note that the ex-date for capital increases and dividend distributions is referred to as “Trading-Suspension day” which is normally one week before the General Assembly Meetings.)

 

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