Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd April 2014).

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

The RSISX index ended the week at ID1,822 (+0.5%)/ $1,942 (+0.8%) (weekly change). The number of week traded shares was 21.2bn and the weekly trading volume was ID21.1bn ($17.3mn).

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ISX Company Announcements

  • In order to diversify the means of saving for the public, Central Bank of Iraq (CBI) signed an agreement with one of the largest mint companies to manufacture alloy of pure gold to be sold to the public with weights at a range of 5g to 1000g.The total amount of gold which will be minted is about 11 tons and there will be more according to the public’s demand.
  • AL-Nukhba for Construction (SNUC) will hold its AGM* on Apr. 17, 2014 to discuss 2012 annual financial results, distributing cash dividend, electing new board members and amending the article of incorporation by adding real-estate investment activities. ISX will suspend trading of SNUC starting on Apr. 10, 2014.
  • Iraqi Date Processing & Mark. (IIDP) was suspended from trading starting on April 2, 2014 due to its failure in disclosing financial results for the period ended August 31, 2013.
  • A cross transaction occurred on IQD16bn Mosul Bank (BMFI) shares on April 2, 2014. This represents 1.6% of BMFI capital.
  • According to the announcement of ISX on April 1, Mamoura Real Estate (SMRI) signed a Memorandum of Understanding (MOU) with “Arabian Construction Company (ACC)” to invest 1290m2 land of Karada\Baghdad. According to this memo, the land valued at $2.7mn (IQD3.32bn).  ACC will provide the funding and the required designs for the project and will build a first class building which will have 7-10 floors. Project’s profit will be shared fifty-fifty between SMRI and ACC. Please note that ACC is a huge Construction Company in UAE. ACC constructed Etihad Towers which contain 5 towers, each having 50 floors. ACC also built Al Zahra Tower in Dubai having 75 floors and 545 apartments.
  • ISC has approved to extend two more weeks for Ishtar Hotels (HISH) for its new shares to resume trading from the capital increase through 50% bonus issue.
  • Subscription on 95.5bn Babylon Bank (BBAY) shares started on Apr. 1, 2014) to increase the capital through rights issue.

 

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