Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th April 2015).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at ID1,129 (-1.6%)/ $1,127 (-1.2%) (weekly change) ) (-19.0% and -24.0% YTD change, respectively). The number of week traded shares was 16.8bn and the weekly trading volume was IQD16.3bn ($12.5mn).

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ISX Company Announcements

  • Al-Noor For Money Transfer (MTNN) completed the listing procedures to be listed on the non-regular market and will start trading on Apr. 30, 2015.
  • Al-Rabita Almalia For Money Transfer (MTRA) completed the listing procedures to be listed on the non-regular market and will start trading on Apr. 28, 2015.
  • Baghdad Soft Drinks (IBSD) will hold its AGM* on Apr. 30, 2015 to discuss and approve 2014 annual financial results and distributing cash dividend. IBSD also invited its shareholders to visit the company’s headquarters to receive their stock certificate and cash dividends from the profits of previous years. ISX will suspend trading of IBSD starting on Apr. 23, 2015.
  • A cross transaction occurred on IQD12.5bn National Bank (BNOI) shares on Apr. 16, 2015. This represents 5% of BNOI capital. The sellers were Khaled Ahmed Dahi Al-Shammari and Fadhel Ahmed Dahi Al-Shammari and the buyer was Abas Fadhel Ahmed Dahi Al-Shammari.
  • Original shares of Iraqi for Seed Production (AISP) resumed trading on Apr. 14, 2015 after they approved annual financial results (annual period of AISP is ended on March 31, 2014), increasing its capital from IQD5.1bn to IQD7.5bn through 46.24% bonus issue, distributing 60% cash dividend (IQD0.60 price per share), closing all of the remaining deficit and delaying closing the cash & inventory differences (war damages) to the next year.
  • According to Agricultural Cooperation Bank letter no 4539 dated on Mar. 29, 2015 sent to ISC, according to the given permissions by section (2) Government Debt Collection Law no 56 for the year 1977, the liquid and illiquid fixed assets of Dijlah & Furat Bank (BDFD) were blocked, corresponding to an amount of IQD40bn, against performed bond issues by this bank which haven’t been paid yet.
  • According to CBI letter no (9/3/97) dated on Mar. 29, 2015 to the state ministries and all non ministries’ departments about the government and private sectors, CBI asked them to accept all the approved cheques issued by the private banks which are licensed by the CBI. In addition, CBI asked them to consider this issue very important.
  • Iraq Registrar of Companies approved the decisions of Elaf Islamic Bank (BELF) including increasing its capital from IQD152bn to IQD200bn through 11.5% bonus and 20.1% rights issues.
  • Iraq Registrar of Companies approved the decisions of Commercial Bank of Iraq (BCOI) including the approval of distributing 3.7% cash dividend (IQD0.037 price per share), while not approving 2013 annual financial results until the CBI will provide an answer and clarification upon their request about the amount of $20mn that was recorded under “Customer Custody” item. BCOI declared that this amount represented Iraqi Government bonds which were showed in Ahli United Bank statement as deposit and its custody with international custodian bank. The Registrar also didn’t approve cancelling some of the old doubtful debts of less than and equal to IQD1.5mn.
  • Iraqi for General Transportation (SIGT) resumed trading on Apr. 12, 2015 after fulfilling ISC’s disclosure requirements.

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