Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 11th Feb 2016).
The RSISX index ended the week at IQD968 (-1.0%) / $1001 (-1.3%) (weekly change) (-11.2% and -12.6% YTD change, respectively). The number of week traded shares was 7.0bn and the weekly trading volume was IQD4.3bn ($3.5mn).
ISX Company Announcements
- Original shares of Iraqi Date Processing and Marketing (IIDP) resumed trading on Feb. 9, 2016 after the bank approved increasing its capital from IQD17.3bn to IQD27.6bn through 60% rights issue.
- Al-Mansour Bank (BMNS) completed the procedures to decrease the members of board of directors from 9 to 7 members.
- ISX invited banks to offer custody services. The approval of the CBI and ISC are required for offering the custodian bank services. Dar Es Salam Bank (BDSI) and National Bank of Iraq (BNOI) received the approval of the CBI in 2009 and 2013, respectively, but no further progress upon the matter was made by the two banks.
- Mosul Bank for Development and Investment (BMFI) held its AGM* on Feb. 10, 2016 to discuss and approve 2014 annual financial results. ISX suspended the trading of BMFI starting Feb. 7, 2016.
- Al-Khair Financial Investment (VKHF) resumed trading on Feb. 7, 2016 after fulfilling ISC disclosure requirements by disclosing quarterly financial results of 2015.
- Iraq Baghdad for General Transport (SBPT) invited its shareholders to visit the company’s headquarters to receive their cash dividend of 2014.
- Iraqi Engineering Works (IIEW) disclosed that Mr. Adnan Ali Ahmed now owns 24% of the company’s IQD1.5bn capital.