Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th Aug 2015).
The RSISX index ended the week at ID1,258 (-1.0%) / $1,317 (-0.2%) (weekly change) (-9.7% and -11.1% YTD change, respectively). The number of week traded shares was 33.4bn and the weekly trading volume was IQD22.8bn ($18.4mn).
ISX Company Announcements
- According to the ISX announcement related with the instructions of depositing and trading the bonds, in order to activate the process of issuing the bonds and guarantee the process of their trading, the following instructions will be followed: 1) Instructions of depositing the bonds: a) The bond is deposited to the account of the investor through the investor or through licensed brokerage company. b)The bond is confirmed by the CBI. c)The depository center is responsible for keeping the bonds until the maturity. d)The depository center delivers the bond to the final beneficiary on its maturity and with the same category that was bought. e) In the due date of the bond, the IDC will initially notify the bank which bought the bond and the CBI about the last owner of the bond according to last trading session. 2)Instructions of delivering the bonds: a)The investor is eligible to trade the bond in the daily trading sessions through brokerage companies after depositing it in IDC. b)The trading is resumed based on the category of the bond assuming that one unit equals to the category of the bond: Category of 2,500 one unit, Category of 10,000 one unit, Category of 50,000 one unit, Category of 100,000 one unit. c)The value of the bond is in IQD. d)The limit for the price change of the bond is %10 in each session. e)The commission of the broker is no more than 0.004, and the fee of the ISX will be 0.001. f)Brokerage firms will adopt similar trading and settlement procedures. g)Same trading mechanism which is used for listed stocks will be used for bonds.
- ISC has decided to suspend the trading of the following companies starting tomorrow (Aug. 6, 2015) for their failure of disclosing FY2014 financial results: Babylon Bank (BBAY), Dar Es Salaam Bank (BDSI), Economy Bank (BEFI), Elaf Islamic Bank’s (BELF), North Bank (BNOR), Electronic Industries (IELI), Fallujah for Construction Materials (IFCM), Nationality Househ. Furniture (IHFI), AL- Kindi of Veterinary Vaccines (IKLV), Modern Construction Materials (IMCM), Modern Paint Ind. (IMPI), North Soft Drinks (INSD), Baghdad Motor Cars Servicing (SBMC), Baghdad Passengers Transport (SBPT), Iraqi Land Transport (SILT), General Transportation (SIGT), Al-Mosul for Funfairs (SMOF), Ashour Hotel (HASH), Mansour Hotel (HMAN), National for Tourist Investment (HNTI), Sadeer Hotel (HSAD), Palestine Hotel (HPAL) and Mosul Dam Tourist Village (HTVM).
- According to the Al Kahatem Telecom’s (TZNI) letter sent to ISC, the fine that was imposed on Atheer Iraq Company for the delay of the date of listing, which was on June 23rd, 2015, has been removed because the company has listed its shares on the ISX on that specific date according to the contract. The annual fine was $4.67mn.
- Original shares of Modern Sewing (IMOS) will resume trading on Aug. 9, 2015 after they approved 2014 annual financial results and increasing its capital from IQD0.9bn to IQD1.0bn through 11.1% bonus issue. The opening price will be IQD2.79 per share with +/-50% limit for the first session.
- The subscription on 3bn AL-Nukhba for Construction (SNUC) shares closed on Jul. 23, 2015 to increase the capital to IQD5bn through 150% rights issue; however the subscription hasn’t been fulfilled. SNUC’s capital is now equal to IQD2,065,519,330.