Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th Mar 2016).
The RSISX index ended the week at IQD829 (-7.8%) / $851 (-8.2%) (weekly change) (-23.9% and -25.7% YTD change, respectively). The number of week traded shares was 43.0bn and the weekly trading volume was IQD18.1bn ($14.4mn).
ISX Company Announcements
- ISX suspended the trading of Al-Mansour Bank (BMNS) starting on Mar. 6, 2016 due to its AGM held on Mar. 9, 2016. In its AGM, BMNS approved to distribute 6% cash dividend (IQD0.06 price per share).
- Al-Rabita Al-Maliya Company (MTRA) resumed trading on Mar. 6, 2016 after fulfilling ISC disclosure requirements by disclosing quarterly financial results of 2015 and completing the capital increase from IQD16bn to IQD45bn through 181% rights issue.
- A cross transaction occurred on 14bn shares of Iraqi Islamic Bank (BIIB) on Mar. 6, 2016. This represents 5.6% of BIIB capital.
- Two cross transactions occurred on 22.5bn shares of Elaf Islamic Bank (BELF) on Mar. 6 and 7, 2016. These transactions represent 9.0% of BELF capital. On March 6, BELF announced that Al-Muhaj Company for Public Limited Contracting ownership percentage of BELF decreased from 9.0% to 4.5% as a result of selling its shares of BELF.
- Dar Es Salam Investment Bank (BDSI) was suspended from trading starting on Mar. 10, 2016 because the bank failed to explain why the prices have touched the lower limit in the last two sessions (Mar. 8-9, 2016).
- Investment Bank (BIBI) announced that it decided to close following branches: Al-Mahmodya Branch, Al-Kamalya Branch and Al-Ryadh Branch, and the bank decided to merge them with the following branches, respectively: Al-Baya Branch, Baghdad Al-Jadida Branch and Al-Karada Branch.