Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th June 2016).
The RSISX index ended the week at IQ687 (-3.8%) / $694 (-2.6%) (weekly change) (-37.0% and -39.4% YTD change, respectively). The number of week traded shares was 4.4bn and the weekly trading volume was IQD3.2bn ($2.5mn).
ISX Company Announcements
- Baghdad Soft Drinks (IBSD) will hold its AGM* on Jun. 16, 2016 to discuss and approve 2015 annual financial results, distributing cash dividends, merging with Ynabee’ Al Zawraa Company and capital increase depending on the approval of the merger. The proposed new capital is the total paid-in capital of IBSD and Ynabee’ Al Zawraa Company.
- Al-Ameen Insurance (NAME) will hold its AGM* on Jun. 19, 2016. ISX will suspend the trading of NAME on Jun. 14, 2016.
- The Ahli United Bank bought 17mn shares of Commercial Bank of Iraq (BCOI) in the trading sessions from June 5 to June 9, 2016. The total BCOI shares bought by The Ahli United Bank till Jun. 9, 2016 have reached 3.3bn, corresponding to 13.2% of the total order (25bn shares).
- Al-Iraqia for Money Transfer (MTIR) was suspended from trading starting on Jun. 7, 2016 until the banking license is issued by the CBI. The company registrar approved the capital increase from IQD45bn to IQD100bn through rights issue and approved the change in the function of the company from money transfer to Islamic banking with the name of International Islamic Bank.
- New shares of Modern Animal and Agricultural Products (AMAP) resumed trading on Jun. 5, 2016 from the capital increase to IQD4.1bn through 5% bonus issue.
- National Bank of Iraq (BNOI) resumed trading on Jun. 5, 2016 after discussing and approving 2015 annual financial results.
- ISX will organize a workshop on Jul. 23, 2016 related with the following subjects: “The role of governors’ rules, disclosures, custodian services, online trading in attracting investors and stimulating investment and trading in the ISX.” Joint companies, Arab and foreign companies are invited to the workshop.