Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 11th June 2015).

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

The RSISX index ended the week at ID1,366 (+0.6%) / $1,319 (-0.5%) (weekly change) (-1.9% and -11.0% YTD change, respectively). The number of week traded shares was 19.1bn and the weekly trading volume was IQD16.0bn ($11.9mn).

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ISX Company Announcements

  • According to ISX letter to ISC no. (1125) dated on 11/6/2015 about completing Al Khatem Telecom (TZNI)’s requirements of listing and start trading, following are the details: 1) Al Khatem Telecom (TZNI) started their advertisement campaign on May 18, 2015. It was revised according to ISX request to advertise specifically about Al Khatem Telecom (TZNI) activities and not Zain Iraq. The new campaign started on May 25, 2015 according to ISX advice to attract investors and they are still advertising. 2) According to Article 3c of the listing procedures approved by the ISC of Al Khatem Telecom Company (TZNI), the first trading session will be on Jun 23, 2015 (1 month after the advertising campaign). 3) The shareholders book submitted to IDC on Jun. 9, 2015. It is reviewed and approved by the IDC and depositing the shares started from Jun. 10, 2015. 4) Atheer National Company (the seller) shares deposited through Rabee Securities on Jun. 11, 2015.
  • According to ISX announcement no. (1130) dated on 11/6/2015, Al Khatem Telecom (TZNI) will start trading on Tuesday, Jun. 23, 2015 after completing all the requirements and depositing shareholders book in the IDC. Please consider the following procedures: 1) Atheer National Company (Shareholder of Al Khatem Telecom (TZNI)) will offer 25% of the capital of Al Khatem Telecom (TZNI) (457,445,663,350) shares. The seller is not allowed to buy any shares of Al Khatem Telecom (TZNI) until they finish the above shares. 2) The selling procedures will be through Rabee Securities. 3) The share will trade at free price at the first trading session. The closing price of the first trading session will be the average price of this session. 4) The percentage of change after the first trading session will be +/- 10% of the first trading session closing. 5) The seller will continue offering until they fill the number of shares above. Al-Mansour Pharmaceuticals Ind. (IMAP) will resume trading on Jun. 14, 2015 after they approved 2014 annual financial results and distributing 4.6% cash dividend (IQD0.046 cash dividend per share). The opening price will be IQD0.68 per share with +/-10% limit for the first session.
  • CBI has decided on its session no. 1525 held on May 18-19, 2015 to reduce the time period of deposing the amounts of Iraqi Dinar to implement the foreign transfers to be 10 days instead of 15 days.
  • Iraqi Agricultural Products (AIRP) will hold its AGM* on Jun. 21, 2015 to discuss 2014 annual financial results and distributing IQD180mn cash dividend (corresponding to IQD0.5 cash dividend per share). ISX will suspend trading of AIRP starting on Jun. 14, 2015.
  • Al-Mansour Pharmaceuticals Ind. (IMAP) will resume trading on Jun. 14, 2015 after they approved 2014 annual financial results and distributing 4.6% cash dividend (IQD0.046 cash dividend per share). The opening price will be IQD0.68 per share with +/-10% limit for the first session.
  • A cross transaction occurred on 5.4bn Ashur Bank (BASH) shares on Jun. 11, 2015, corresponding to 2.2% of BASH capital. A cross transaction occurred on 6.3bn Iraqi Islamic Bank (BIIB) shares on Jun. 9, 2015, corresponding to 2.5% of BIIB capital.
  • ISC has issued a letter no. (9/1117) on Jun. 9, 2015 to ISX about Dar Es Salaam Investment Bank (BDSI) situation. They noted that the adjusted price is 0.95 and the shares will not resume trading before capital increase until they get the approval of the registrar about the capital increase that was listed in the subject of the AGM as following: 1) Listing new shares for subscription with 45bn share. 2) Selling 50bn share for IQD1.100 for the new investors. 3) Distributing bonus shares to the shareholders with value IQD5bn.
  • According to ISX letter no. (1100) on Jun. 8, 2015, sent to ISC about listing of Lo’Lo’ For Money Transfer, the company didn’t complete the deposit procedures; therefore it has not listed yet. According to ISX letter no. (1101) on Jun. 8, 2015, sent to ISC about listing of Immortal River Corporation For Money Transfer (MTRV), the company didn’t complete the deposit procedures; therefore it has not listed yet. According to ISX letter no. (1099) on Jun. 8, 2015, sent to ISC about listing of Ataa Al-Garri Company For Money Transfer (MTAG), the company didn’t complete the deposit procedures; therefore it has not listed yet.
  • According to central bank letter no. (9/2/8970) dated June 7, 2015, the bank is going to abolish the following banks from foreign currency auction due to not paying the taxes and custom ratios to the tax and custom directorates. CBI will freeze funding the overseas accounts of those banks until they pay them off. The following are those banks: Investment Bank of Iraq (BIBI), Gulf Commercial Bank (BGUC), Iraqi Middle East Bank (BIME), Union Bank (BUOI), Sumer Commercial Bank (BSUC), Bilad Islamic Bank, Lebanon France Bank, Byblos Bank, International Development Bank, Bank of Beirut and Arab Countries, Cihan Bank, France Bank, TBI, Al-Huda Bank.

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