Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th January 2015).
The RSISX index ended the week at ID1,292 / $1,375 (-7.2%) (weekly change). The number of week traded shares was 4.3bn and the weekly trading volume was IQD5.2bn ($4.2mn).
ISX Company Announcements
- According to the ISX announcement, the names and the capital of the companies that will be listed on the ISX are National Islamic Bank (BNAI) (IQD251bn), Trans Iraq Bank for Investment (BTRI) (IQD200bn), United Arab Money Transfer (MTUA) (IQD45bn), Al-Taif Money Transfer (MTAI) (IQD38bn), Al-Harir for Money Transfer (MTAH) (IQD15bn), Al-Iraqia For Money Transfer (MTIR) (IQD15bn), Al- Muhej Money Transfer (MTAM) (IQD15bn), Ataa Al-Garri Co. For Money Transfer (MTAG) (IQD15bn), Mouta for Remittance (MTMO) (IQD15bn) and Sama Baghdad Finance Transfer (MTSB) (IQD15bn).
- Al-Zawraa for Financial Inv. (VZAF) will hold its AGM* on Jan. 29, 2015 to discuss and approve 2013 annual financial results and distributing cash dividend. ISX will suspend trading of VZAF starting on Jan. 22, 2015. According to the announcement No. 380, dated on Jan. 7, 2015 issued by the Ministry of Justice – Department of Implementation of Karrada, the custody on VZAF shares has been cancelled.
- Kharkh Tour A. City (SKTA) will hold its AGM* on Jan. 26, 2015 to discuss and approve 2013 annual financial results, increasing its capital from IQD0.5bn to IQD1.0bn through rights issue and discussing the inclusion of the company with the investment law no. (13) for the year 2006 and approve it. ISX will suspend trading of SKTA starting on Jan. 19, 2015.
- Commercial Bank of Iraq (BCOI) will resume trading on Jan. 18, 2015 after they approved 2013 annual financial results and distributing 3.7% cash dividend (IQD0.037 price per share).
- Al-Ameen Financial Inv. (VAMF) will resume trading on Jan. 18, 2015 after they approved 2013 annual financial results, the accumulated deficit of 2013 and amending the article of incorporation according to the financial investment companies system no. (6) for the year 2011.
- Elaf Islamic Bank (BELF) will hold its AGM* on Jan. 22, 2015 to discuss and approve 2013 annual financial results, increasing its capital from IQD152bn to IQD200bn through bonus and rights issues, distributing cash dividend, discussing the accumulated deficit of 2013 and electing new board members. ISX suspended trading of BELF starting on Jan. 15, 2015.
- Original shares of Iraqi Agricultural Prod. Mark. Meat (AIPM) resumed trading on Jan. 12, 2015 after they approved 2013 annual financial results, increasing its capital from IQD4.125bn to IQD4.5bn through 9.1% bonus issue and transferring the remaining surplus to the cumulative surplus account.
- The Registrar of Companies has decided to reject the objection of the shareholders; Karim Yousef Tilo and Iraq- Al’an Company for Limited General Trading, because of the reason that BMFI has completed the capital increase procedures properly according to the companies’ law No. 21/1997. The Registrar of Companies approved the AGM* decisions of BMFI which was held on Feb. 11, 2014, including the capital increase from IQD202bn to IQD252.5bn.
- ISC has decided to suspend the following companies starting Jan. 11, 2015 for failure of disclosing 9M2014 financial results: Economy Bank for Investment (BEFI), Electronic Industries (IELI), Baghdad Motor Cars Servicing (SBMC) and Iraqi for General Transp. (SIGT).
- Original shares of Ishtar Hotels (HISH) resumed trading on Jan. 11, 2015 after they approved 2013 annual financial results and increasing its capital from IQD1.50bn to IQD2.25bn through 50% bonus issue.
- Original shares of Modern Animal & Agricultural Production (AMAP) resumed trading on Jan. 11, 2015 after they approved 2013 annual financial results and increasing its capital from IQD3.6bn to IQD3.9bn through 8.5% bonus issue.