Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 28th Jan 2016).
The RSISX index ended the week at IQD925 (-2.1%) / $960 (-1.3%) (weekly change) (-15.2% and -16.2% YTD change, respectively). The number of week traded shares was 6.5bn and the weekly trading volume was IQD7.1bn ($5.7mn).
ISX Company Announcements
- Mosul Bank for Development and Investment (BMFI) will hold its AGM* on Feb. 10, 2016 to discuss and approve 2014 annual financial results. ISX will suspend the trading of BMFI starting Feb. 5, 2016. BMFI announced that due to the current security situation in Iraq, the bank’s nine branches and three offices stopped working and total loss recorded from these branches was estimated as IQD3.5bn. The bank said that IQD3.5bn loss is a small amount according to the capital of the bank (currently IQD252.5bn). BMFI stated that the bank is continuing to operate normally and the clients who have current accounts are withdrawing and depositing money without any problem.
- Iraqi Date Processing and Marketing (IIDP) will hold its AGM* on Feb. 7, 2016 to discuss increasing its capital from IQD17.3bn to IQD34.5bn through 100% rights issue. ISX will suspend the trading of IIDP starting from Feb. 2, 2016.
- Iraqi Land Transport (SILT) will hold its AGM* on Jan. 31, 2016 to discuss and approve 2013 and 2014 annual financial results. ISX suspended the trading of SILT starting on Jan. 26, 2016.
- Tourist Village of Mosul Dam (HTVM) suspended from trading on Jan. 26, 2016 because the company failed to explain why the prices have touched the lower limit in the last two trading sessions (Jan. 24-25).
- Sumer Commercial Bank (BSUC) resumed trading on Jan. 25, 2016 after the bank approved 2014 annual financial results.
- Al-Wiaam for Financial Investment (VWIF) resumed trading on Jan. 25, 2016 after the company approved 2014 annual financial results.
- New shares of Al-Iraqia for Money Transfer (MTIR) from the capital increase to IQD100bn through 122.2 rights issue resumed trading on Jan. 24, 2016.
- A cross transaction occurred on 930mn shares of Baghdad Soft Drinks (IBSD) on Jan. 24, 2016. This represents 0.7% of IBSD capital.
- ISX requested Al-Kindi of Veterinary Vaccines Drugs (IKLV) to disclose the size of losses made due to the rejection of the purchase of IKLV’s vaccines by the Veterinary Directorate (a client of IKLV).