Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 29th August 2013).

According to Central Bank of Iraq (CBI)’s announcement, CBI’s board has decided to lift custody over Warka Bank on August 25, 2013 after the Financial Services Court has made a final decision about the custody case on May 26, 2013. Warka Bank announced in its website that “This decision comes in accordance with the decision issued by the court appeal in favor of Warka Bank for Investment and Finance”.

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

The RSISX index ended the week at ID1,739 (-2.6%) / $1,875 (-2.3%) (weekly change). The number of week traded shares was 4.8bn and the weekly trading volume was ID7.5bn ($6.2mn).

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ISX Company Announcements

  • Asiacell (TASC) 1H13 brief P&L results (announced on August 29, 2013):
    P&L – 1H13: Revenue: IQD1,106.0bn (+2.8% y/y), EBITDA: IQD561.1bn (-3.2% y/y), EBITDA margin: 50.7% (-3.2ppt y/y), Net Profit: IQD322.7bn (-2.9% y/y), Net Profit margin: 29.2% (-1.7ppt y/y), Number of customers: 10.6mn (+10.4% y/y)
    P&L – 2Q13: Revenue: IQD539.8bn (-2.7% y/y), EBITDA: IQD285.4bn (-3.0% y/y), EBITDA margin: 52.9% (-0.2ppt y/y), Net Profit: IQD167.5bn (-0.1% y/y), Net Profit margin: 31.0% (+0.8ppt y/y)
  • Al-Ahlyia for Agricultural Prod. (AAHP) will hold its AGM* on Sept. 11, to discuss year-end results (March 31). (Please note that AAHP is listed in the non-regular market).
  • Palestine Hotel (HPAL) will hold its AGM* on Sept. 7, 2013 to discuss 2010 financial statements and also to discuss leasing the hotel to international chain.
  • Shares of Iraqi Agricultural Prod. Mark. Meat (AIPM) resumed trading on August 29, 2013 after the company has met the disclosure requirements.
  • New shares of Elaf Islamic Bank (BELF) from the capital increase to IQD152bn through 19.9% bonus and 32.1% rights issues resumed trading on August 28, 2013.
  • Shares of Baghdad Hotel (HBAG) resumed trading on August 28, 2013 after the GA approved 2012’s annual report on August 21, 2013.
  • United Bank (BUND) completed its capital increase to IQD300bn through 20% bonus issue on August 27, 2013. The date when the new shares will resume trading hasn’t been announced. (ISX website)
  • Shares of AL- Kindi of Veterinary Vac. (IKLV) resumed trading on August 25, 2013 after the company meeting all the disclosure requirements of ISC and ISX. New shares of the company from the capital increase to IQD4.5bn through 25% bonus issue also started trading on August 25, 2013.
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