Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 29th January 2015).
The RSISX index ended the week at ID1,294 (+1.6%) / $1,369 (+0.8%) (weekly change) ) (-7.1% and -7.6% YTD change, respectively). The number of week traded shares was 5.4bn and the weekly trading volume was IQD6.1bn ($5.0mn).
ISX Company Announcements
- Board of Directors of the Central Bank of Iraq (CBI) discussed on its exceptional session on Jan. 25, 2015, the financial situation in Iraq and the high deficit in the public budget. (Please refer to our Daily published on Wednesday (Jan.28) for the details)
- Iraqi for Seed Production (AISP) will hold its AGM* on Mar. 1, 2015 to discuss and approve 2014 annual financial results and distributing cash dividend. ISX will suspend trading of AISP starting on Feb. 19.
- Original shares of Kharkh Tour A. City (SKTA) resumed trading on Jan. 28, 2015 after they approved 2013 annual financial results and increasing its capital from IQD0.5bn to IQD1.0bn through rights issue.
- According to ISX announcement on Jan. 27, 2015, ISX asked the following companies to complete the deposit procedures including providing 2014 annual financial results and presenting the listing subject to the company’s board of directors in its first AGM: Nobles For Money Transfer., Al-Nibal Al Arabyia For M. T., Al-Rabita Almalia, Al-Noor For M. T., Al-Lulu For M. T., Al-Motaman For M. T., Al-Waeel For M. T. and Immortal River Corp. For M. T.
- According to ISX announcement, the following companies completed the listing procedures and the first trading session of each company scheduled as the following: i) Al-Iraqia For Money Transfer (MTIR), Al-Harir for M. T. (MTAH) and Al-Taif M. T. (MTAI) will start trading on Feb. 5, 2015. ii) Sama Baghdad Finance Transfer (MTSB) will start trading on Feb. 8, 2015. iii) National Islamic Bank (BNAI) will start trading on Feb. 19, 2015. The share prices will be unrestricted for three trading sessions. The share prices will be determined after those three sessions. The minimum and maximum share prices (high/low) during the sessions will be +/-20% of the average share price in the last session according to instructions No. (15/3/d).
- ISC sent a letter to the ISX governors for Mosul Bank (BMFI) to resume trading, following the decision of the Registrar of Companies to reject the objection of the shareholders, Karim Yousef Tilo and Iraq- Al’an Company for Limited General Trading. The ISC also mentioned that they don’t have any objection for BMFI to resume trading in the ISX, if BMFI presents 2014Q2 financial results to the ISC.
- Original shares of Elaf Islamic Bank (BELF) resumed trading on Jan. 27, 2015 after they approved 2013 annual financial results and increasing its capital from IQD152bn to IQD200bn through 11.5% bonus and 20.1% rights issues, and electing new board members.
- Electronic Industries (IELI) resumed trading on Jan. 27, 2015 after fulfilling ISC’s disclosure requirements by announcing 9M14 financial results.
- Subscription on 144bn Dijlah & Furat Bank (BDFD) shares started on Jan. 27, 2015 to increase the capital to IQD250bn through rights issue. Subscription on BDFD shares had started on Nov. 9, 2014 to increase the capital to IQD250bn; however no one subscribed in BDFD shares in 60 days period. Therefore, the subscription was closed on Jan. 7, 2015.
- A cross transaction occurred on IQD1bn United Bank (BUND) shares on Jan. 29, 2015. This represents 0.3% of BUND capital. A cross transaction occurred on IQD894mn Union Bank (BUOI) shares on Jan. 28, 2015. This represents 0.4% of BUOI capital. A cross transaction occurred on IQD202K Modern Chemical Industries (IMCI) shares on Jan. 28, 2015. This represents 0.1% of IMCI capital. A cross transaction occurred on IQD60mn Credit Bank of Iraq (BROI) shares on Jan. 25, 2015. This represents 0.02% of BROI capital.