Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 26th February 2015).
The RSISX index ended the week at ID1,058 (-10.6%) / $1,111 (-10.6%) (weekly change) ) (-24.0% and -25.1% YTD change, respectively). The number of week traded shares was 4.1bn and the weekly trading volume was IQD3.8bn ($3.1mn).
ISX Company Announcements
- AHliya For Insurance (NAHF) will hold its AGM* on Mar. 9, 2015 to discuss and approve 2012 & 2013 annual financial results and distributing cash dividend of the years 2012 & 2013. ISX will suspend trading of NAHF starting on Mar. 1, 2015.
- Subscription on 30.5bn Elaf Islamic Bank (BELF) shares started on Feb. 24, 2015 to increase the capital to IQD200bn through 20.1% rights issue.
- New shares of Baghdad Passengers Transport (SBPT) from the capital increase to IQD1.0bn through 100% bonus issue resumed trading on Feb. 24, 2015.
- According to the ISC letter sent to Elaf Islamic Bank (BELF), ISC asked BELF to remove the bad loans that have reached IQD4,164,685,874 in 2014. ISC also asked the bank to record provision for doubtful debts according to the accounting rules and the guiding list issued by CBI and to disclose that in the Board of Directors’ report. ISC stated that the Board of Directors has to prepare its report and the balance sheet of the bank according to the laws, accounting rules and the instructions issued by the ISC.
- Iraq Registrar of Companies approved the AGM* (Oct. 16, 2014) decisions of National Chemical Industries (INCP) including approving 2013 annual financial results, closing the deficit from the available reserves and canceling to amend the first and third article of incorporation by changing the company’s commercial name.
- Iraqi Middle East Bank (BIME) invited its shareholders to visit the company’s headquarters to receive cash dividends from the profits of the years 2012 and 2013.
- AL-Badia for General Transportation (SBAG) will hold its AGM* on Mar. 1, 2015 to discuss and approve 2013 annual financial results, closing the deficit with the available reserves and amending the first and third article of incorporation by changing the company name to AL-Badia for Trading and General Transporation. ISX suspended trading of SBAG starting on Feb. 22, 2015.
- Al-Harir For Money Transfer (MTAH) resumed trading on Feb. 22, 2015 after fulfilling ISC’s disclosure requirements by disclosing 2014Q1, 2014Q2 and 2014Q3 financial results.
- A cross transaction occurred on IQD119mn Kurdistan Int. Bank (BKUI) shares on Feb. 22, 2015. This represents 0.03% of BKUI capital.