Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th May 2015).
The RSISX index ended the week at ID1,327 (+5.5%)/ $1,295 (+3.6%) (weekly change) (-4.7% and -12.6% YTD change, respectively). The number of week traded shares was 12.7bn and the weekly trading volume was IQD12.7bn ($9.6mn).
ISX Company Announcements
- Al-Ameen Financial Inv. (VAMF) will hold its AGM* on Jun. 11, 2015 to discuss and approve 2014 annual financial results and discussing the accumulated deficit of 2014. ISX will suspend trading of VAMF starting Jun. 4, 2014. Please note, VAMF is trading in non-regular market.
- Iraqi for Tufted Carpets (IITC) will hold its AGM* on Jun. 10, 2015 to discuss 2014 annual financial results and distributing 25% cash dividend (IQD0.25 price per share). ISX will suspend trading of IITC starting on Jun. 3, 2015.
- Al-Mansour Pharmaceuticals Ind. (IMAP) will hold its AGM* on Jun. 6, 2015 to discuss 2014 annual financial results and distributing cash dividend of the year 2014. ISX will suspend trading of IMAP starting on May 31, 2015.
- New shares of Kharkh Tour Amuzement City (SKTA) from the capital increase to IQD1.0bn through 100% rights issue resumed trading on May 28, 2015.
- According to registrar letter no 13836 dated on May 24, 2015, the capital increase decision of Baghdad Soft Drinks (IBSD), which was approved in the AGM on April 30, 2015, didn’t pass as it is not included in the meeting’s agenda which violated the articles 89&92 of Iraqi companies’ law. The shares of IBSD resumed trading on May 27, 2015 after they discussed and approved 2014 financial results.
- Dar Es Salaam Investment Bank (BDSI) General Assembly met on May 24, 2015. The bank decided to increase the capital to IQD205bn through IQD5bn bonus issue and IQD50bn rights issue which will be according to the article 56/4th of Iraqi Companies Law. The new shares from the rights issue will be sold to 5 new investors at a premium price of IQD1.10/share. In addition, some shareholders who hold more than 10% share suggested adding a decision to increase the capital through IQD45bn rights issue with the participation of original shareholders according to the article 55/1st of Iraqi Companies Law, which will bring the total capital to IQD250bn. Please note, IQD45bn rights issue decision was not included in the meeting agenda and will be upon the registrar approval.
- According to Dar Es Salaam Investment Bank (BDSI) letter no. (14/143/2944) on May 26, 2015, sent to ISX, the bank announced that the subscription on 64.1bn Babylon Bank (BBAY) shares closed on May 24, 2015 to increase the capital to IQD250bn through 35.9% rights issue; however no one subscribed in BBAY shares.
- Subscription on 3bn AL-Nukhba for Construction (SNUC) shares started on May 24, 2015 to increase the capital to IQD5bn through 150% rights issue.
- Based on the assignment of Prime Minister’s Office, Farouk Abdel Halim Tawfiq has held the position as a Chairman of the Iraq Securities Commission (ISC), besides holding his current position as a Federal Board of Supreme Audit Chairman, starting on May 12, 2015.