Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th June 2016).
The RSISX index ended the week at IQ670 (-2.5%) / $680 (-2.1%) (weekly change) (-38.5% and -40.7% YTD change, respectively). The number of week traded shares was 14.5bn and the weekly trading volume was IQD5.7bn ($4.5mn).
ISX Company Announcements
- Baghdad Soft Drinks (IBSD) held its AGM* on Jun. 16, 2016. In the meeting, IBSD approved 2015 annual financial results, distributing 10% cash dividends (IQD0.10 cash dividend per share) and merging with Ynabee’ Al Zawraa Company. The new capital after the merger will be IQD177.3bn (current capital of IBSD: IQD133bn).
- Iraqi Date Processing and Marketing (IIDP) resumed trading on Jun. 16, 2016 after fulfilling ISC’s disclosure requirements by disclosing 2015 annual financial results.
- Al-Ameen Insurance (NAME) will hold its AGM* on Jun. 19, 2016 to discuss and approve 2015 annual financial results. ISX suspended the trading of NAME starting on Jun. 14, 2016.
- Al-Rabita Al-Maliya for Money Transfer (MTRA) resumed trading on Jun. 13, 2016 after discussing and approving 2015 annual financial results.
- ISX announced that it approved the listing application of Al-Maraj Al-Almaiya for Money Transfer. The current capital of the company is IQD100bn, and they received the CBI approval to convert their operations to Islamic Bank (Althiqa Bank).
- Two cross transactions occurred on 9.5bn shares of United Bank (BUND) on Jun. 12, 2016, corresponding to 3.2% of BUND capital.
- ISX replied Al-Warka Investment Bank (BWAI) on Jun. 12, 2016 by saying that BWAI needs to fulfill the listing requirements to be relisted.