Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th February 2015).
The RSISX index ended the week at ID1,264 (-2.2%) / $1,323 (-2.4%) (weekly change) ) (-9.3% and -10.7% YTD change, respectively). The number of week traded shares was 6.0bn and the weekly trading volume was IQD4.7bn ($3.8mn).
ISX Company Announcements
- According to the announcement by the CBI, CBI Board of directors has taken decisions on its exceptional sessions no. 1519 on Jan. 25, 2015. According to the CBI’s Law No.(56) for the year 2004 (revised), CBI issued instructions to achieve the goals of the bank and the stability of the IQD exchange rate against foreign currency through the optimum use of the resources of foreign exchange resources to meet the all needs and not distracting CBI with functions which are the top of work of the banking system and the relevant offices, while adhering to the requirements of anti-money laundering and terrorism funding laws No. 93 for the year 2004. In the announcement, the list of allowed transactions funded from banks abroad mentioned. The instructions will be applicable starting from Feb. 22, 2015. (Source: CBI)
- 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.
- AL- Kindi of Veterinary Vaccine (IKLV) will hold its AGM* on Feb. 25, 2015 to discuss and approve 2013 annual financial results, increasing its capital from IQD5.40bn to IQD5.94bn through 10% bonus issue and electing new board members. ISX will suspend trading of IKLV starting on Feb. 18, 2015.
- Al-Mansour Hotel (HMAN) sent a letter to the ISX and announced that the ownership of the land of 25.19 acres and 60 square meter was assigned to HMAN according to the decision of Presidential of Baghdad Resumption Court / Karkh / the second resumption commission, according to the trusted decision to unblock the custody No. 48/S/2011 in 19/3/2014, and the decision was approved by the “Discrimination Commission” on 5/2/2015.
- Al-Harir For Money Transfer (MTAH) suspended from trading on Feb. 12, 2015 until the company provide the financial disclosure for the periods; 2014Q1, 2014Q2 and 2014Q3.
- Shares of Mosul Bank (BMFI) resumed trading on Feb. 10, 2015 after fulfilling ISC’s disclosure requirements by announcing 6M14 financial results. According to ISC Instructions No. 3 item 5, the price for any company that resumed trading after a suspension period of more than 6 months will have +/- 50% limit for the first trading session based on the last closing price. BMFI’s last closing price was IQD0.73 per share and the opening price for today session was IQD0.51 per share. BMFI closed the day at IQD0.37 price per share, decreased by 49.3% compared to last closing.
- Modern Construction Materials (IMCM) has informed ISC that the situation of the company hasn’t changed and all of its administrative and production activities have been stopped from the date of its letter. IMCM was unable to continue operating starting from Dec. 30, 2013 due to the hostilities in Anbar province and since it has been controlled by militants.