Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th November 2014).
The RSISX index ended the week at ID1,383 (+2.5%)/ $1,495 (+2.2%) (weekly change) (-25.8% and -24.7% YTD change, respectively). The number of week traded shares was 13.4bn and the weekly trading volume was IQD10.9bn ($9.1mn).
ISX Company Announcements
- Iraq Registrar of Companies approved the decision of Gulf Commercial Bank (BGUC) to increase its capital from IQD250bn to IQD300bn through 2% rights and 18% bonus issues.
- Bain Al-Nahrain Financial Inv. (VMES) will hold its AGM* on Nov. 19, 2014 to discuss and approve 2013 annual financial results and elect new board members. ISX suspended trading of VMES starting on Nov. 12, 2014.
- Shares of Middle East for Prod. Fish (AMEF) resumed trading on Nov. 12, 2014, after they approved 2013 annual financial results and distributing 20% cash dividend (IQD0.20 per share).
- Al-Khair for Financial Inv. (VKHF) resumed trading on Nov. 12, 2014 after fulfilling ISC’s disclosure requirements by disclosing 2013, 3M2014 and 6M2014 financial results.
- AL- Batek Investment (VBAT) resumed trading on Nov. 12, 2014 after fulfilling ISC’s disclosure requirements by disclosing 2013 financial results.
- Referenced to ISC decision no:2768/9 on Nov. 10, 2014, ISX decided to continue the suspension of trading of Mosul Bank (BMFI) until the bank disclose the status of the objection submitted by the shareholder “Karim Yousif” to AGM* decisions and submit the approved minutes of the AGM by Iraq Registrar of Companies.
- Bank of Baghdad (BBOB) has confirmed the appointment of Mr. Faisal Al- Haimus as Managing Director of the Bank. Mr. Al -Haimus has over twenty years of banking experience and has held various executive positions in regional and international banks including Standard Chartered, HSBC and Mashreq Bank. (Iraq Directory)
- Subscription on 144bn Dijlah & Furat Bank (BDFD) shares extended another 60 days starting on Nov. 9, 2014 to increase the capital to IQD250bn through rights issue. A cross transaction occurred on IQD9.9bn BDFD shares on Nov. 10, 2014. This represents 4.0% of BDFD capital.
- A cross transaction occurred on IQD4.2K Modern Chemical Industries (IMCI) shares on Nov. 9, 2014.