Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 26th June 2014).

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

The RSISX index ended the week at ID1,665 (-2.2%)/ $1,776 (-2.2%) (weekly change) (-10.7% and -10.6% YTD change, respectively). The number of week traded shares was 6.5bn and the weekly trading volume was ID8.9bn ($7.3mn).

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ISX Company Announcements

  • Economy Bank (BEFI) 1Q14 (unaudited) financial results: B/S – 1Q14 (Assets: IQD613bn, -6% q/q (+31% y/y), Monetary Credit: IQD161bn, -3% q/q (-7% y/y), Cash: IQD65bn, -49% q/q (-14% y/y), Deposits: IQD314bn, -13% q/q (+11% y/y), BV: IQD231bn, +7% q/q (+37% y/y) P&L – 1Q14 (Estimated Net Banking Income (NBI): IQD10.4bn (-16% y/y), Operating Profit: IQD5.2bn (+35% y/y), Profit Before Tax: IQD5.1bn (+47% y/y).
  • New & original shares of Iraqi Middle East Bank (BIME) from the capital increase to IQD250bn through 66.7% rights issue will resume trading on June 29, 2014 after fulfilling ISC’s disclosure requirements. The opening price will be IQD1.36 per share with +/- 50% limit for the first session.
  • Kharkh Tour Amuzement City (SKTA) will hold its AGM* on July 12 to discuss and approve 2013 annual financial results and increasing its capital from IQD368mn to IQD500mn through 35.9% bonus issue. ISX will suspend trading of SKTA starting on July 4.
  • Mamoura Real Estate (SMRI) will hold its AGM* on July 6, 2014 to discuss and approve 2013 annual financial results and increasing its capital from IQD15.010bn to IQD18.012bn through 20% rights issue. ISX will suspend trading of SMRI starting on Jun. 29, 2014.
  • Original shares of Modern Chemical Ind.(IMCI) will resume trading on June 29 after they discussed and approved 2013 financial results, increasing its capital from IQD135mn to IQD180mn through 33% bonus issue and distributing 50% (IQD0.50 per share) cash dividend. The opening price will be IQD1.36 per share with +/- 50% limit for the 1st session.
  • Ashur International Bank (BASH) will hold its AGM* on July 2, 2014 to discuss and approve 2013 annual financial results and distributing 6% (IQD0.06 per share) cash dividend. ISX suspended trading of BASH starting on Jun. 25, 2014.
  • Shares of Iraqi for Tufted Carpets (IITC) resumed trading on June 25 after they approved 2013 financial results and distributing 25% (IQD0.25 per share) cash dividend.
  • Baghdad Hotel (HBAG) will hold its AGM* on July 1, 2014 to discuss and approve 2013 annual financial results. ISX suspended trading of HBAG starting on Jun. 24, 2014.
  • National Bank of Iraq (BNOI) held its AGM on June 24, 2014. In its GA, BNOI approved distributing 6.6% cash dividend (IQD0.066 per share).
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