Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 30th June 2016).

Note: ISX will be closed starting from July 5, 2016 to July 7, 2016 due to the national holiday of Eid Al-Fitr. The next session will be held on Sunday, July 10, 2016.

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQ741 (+5.7%) / $754 (+5.7%) (weekly change) (-32.1% and -34.2% YTD change, respectively). The number of week traded shares was 57.3bn and the weekly trading volume was IQD15.1bn ($11.9mn).

ScreenHunter_3804 Jul. 04 11.22

ISX Company Announcements

  • Ashur International Bank (BASH) will hold its AGM* on Jul. 18, 2016 to discuss and approve 2015 annual financial results and distributing IQD14.4bn cash dividend from 2015 profit. ISX will suspend the trading of BASH starting on Jul. 13, 2016.
  • Iraqi Agricultural Products (AIRP) will hold its AGM* on Jul. 17, 2016 to discuss and approve 2015 annual financial results, distributing IQD180mn dividends (IQD0.5 dividend per share) and estimating the book value of the damages and theft from 2003. ISX will suspend the trading of AIRP starting from Jul. 12, 2016.
  • Mosul Bank for Development and Investment (BMFI) will be suspended from trading on Sunday (Jul. 3, 2016) if the bank fails to explain why the prices have touched the higher limit in the last two trading sessions (Jun. 29-30, 2016).
  • Investment Bank of Iraq (BIBI) will hold its AGM* on Jul. 4, 2016 to discuss and approve 2015 annual financial results, distributing cash dividend and writing off debts. ISX suspended the trading of BIBI shares starting on Jun. 29, 2016.
  • Babylon Bank (BBAY) resumed trading on Jun. 29, 2016 after fulfilling ISX request to disclose why the prices have touched the higher limit in the last two sessions (Jun. 21-22, 2016). The bank declared that it hasn’t gone through any major changes.
  • Two cross transactions occurred on 31.5bn shares of United Bank (BUND) on Jun. 28 and 30, 2016, which represent 10.5% of BUND capital.
  • A cross transaction occurred on 1.5bn shares of Commercial Bank of Iraq (BCOI) on Jun. 28, 2016, which represents 0.6% of BCOI capital.
  • A cross transaction occurred on 16bn shares of Mosul Bank for Development & Investment (BMFI) on Jun. 27, 2016, which represents 6.3% of BMFI capital.
  • ISC announced that Dijlah and Furat Bank for Development (BDFD) was not allowed to use its 2015 profits to either distribute dividends or retain the profits in the bank following the audit made on its 2015 annual financial results and important observations made on the bank.
  • ISX announced that it would offer investors online stock market services (including to provide data for share prices, reports and announcements) to promote investments. The fee for the investors for these services will be $650 annually.

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