Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th April 2015).
The RSISX index ended the week at ID1,147 (-0.3%)/ $1,141 (-5.5%) (weekly change) ) (-17.6% and -23.0% YTD change, respectively). The number of week traded shares was 5.6bn and the weekly trading volume was IQD6.4bn ($4.0mn).
ISX Company Announcements
- Depositing procedures for the listing of Benefits For Money Transfer (MTMA), Mouta for Remittance (MTMO) and Al-Rabita Almalia For Money Transfer started on Apr. 8, 2015. They will start trading on Apr. 28, 2015.
- Iraqi for General Transportation (SIGT) will resume trading on Apr. 12, 2015 after fulfilling ISC’s disclosure requirements. The opening price will be IQD8.00 per share with +/-50% limit for the first session according to ISC instructions for the companies that were out of trade for more than 6 months.
- Shares of Trans Iraq Bank for Investment (BTRI) and United Al-Arabia For Money Transfer (MTUA) opened for trading on Apr. 8, 2015 after meeting the requirements of ISC.
- According to ISC letter no 13/4 dated on Apr. 6, 2015, sent to ISX Board of Governors about suspension of Al-Sadeer Hotel (HSAD) from trading, ISC stated that Iraqi Depository Center informed on its letter no. (M.D/722) dated on Mar. 26, 2015 that the hotel’s staffs are on sit-in and they haven’t worked since more than a month. ISC has verified by sending a letter and it turned out that there is no staff and the hotel is closed; therefore ISC has decided to suspend trading of HSAD starting from on Apr. 8, 2015.
- According to ISC letter no 10/721 dated on Apr. 2, 2015, sent to ISX Board of Governors to open trading of Trans Iraq Bank for Investment (BTRI), it was mentioned that BTRI should disclose the impact of the lawsuit filed by State Trading Company for Construction Materials (STCCM) against BTRI since the amount of the lawsuit is large and it may result in something that BTRI can’t afford it or collect it from its secured contractors.
- According to ISC announcement dated on Apr. 2, sent to Union Bank (BUOI), referenced to the registrar letter no 8131 dated on Mar. 24, of blocking the investment shares owned by BUOI, the bank should disclose these event as it is a major issue within 10 day according to instruction no. 8 of ISC.
- According to Iraq Registrar of Companies letter no 9081 dated on Apr. 2, 2015, the custody on Elaf Islamic Bank’s (BELF) shares and its investment shares in other companies has been cancelled.
- Original shares of Babylon Bank (BBAY) resumed trading on Apr. 5, 2015 after they approved 2013 annual financial results and increasing the capital from IQD178.9bn to IQD250bn through 35.9% rights and 3.9% bonus issues.
- Shares of Modern Paint Industries (IMPI) resumed trading on Apr. 5, 2015 after they approved 2013 annual financial results, re-announcing the investment file of the company and authorizing the Board of Directors to negotiate and sign the investment contract without returning to the General Authority and electing new board members.