Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 14th July 2016).
The RSISX index ended the week at IQ774 (+2.0%) / $782 (+1.2%) (weekly change) (-39.0% and -31.8% YTD change, respectively). The number of week traded shares was 13.8bn and the weekly trading volume was IQD4.2bn ($3.3mn).
ISX Company Announcements
- Al-Harir for Money Transfer (MTAH) will hold its AGM* on Aug. 6, 2016 to discuss and approve 2015 annual financial results. ISX will suspend the trading of MTAH starting on Aug. 2, 2016.
- Iraqi Islamic Bank (BIIB) will hold its AGM* on Jul. 28, 2016 to discuss and approve 2015 annual financial results, distributing dividends and electing the remaining members of the shariah board. ISX will suspend the trading of BIIB starting on Jul. 25, 2016.
- 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 (IQD0.058 dividend per share) from 2015 profit. ISX suspended the trading of BASH starting on Jul. 13, 2016.
- Investment Bank of Iraq (BIBI) resumed trading on Jul. 13, 2016 after discussing and approving 2015 annual financial results.
- Two cross transactions occurred on 10.1bn shares of United Bank (BUND) on Jul. 11 and 13, 2016 which represent 3.3% of BUND capital.
- The following companies were suspended from trading starting on Jul. 13, 2016 for not fulfilling ISC requirement to disclose 3M16 financial results: 1) The following companies/banks have already been suspended from trading: Economy Bank for Investment (BEFI), Iraqia for General Transportation (SIGT), Modern Paint Industries (IMPI), Al-Muhej Money Transfer (MTAM), 2) The following companies/banks are operating in danger zones: Ashour Hotel (HASH), Tourist Village of Mosul Dam (HTVM), Al-Mosul for Funfair (SMOF), Fallujah for Construction Materials (IFCM), National Household Furniture Industry (IHFI), Al-Khazer for Construction Materials (IKHC), Modern Construction Materials Industry (IMCM), 3) Modern Chemical Industries (IMCI), The Light Industries (ITLI), Motmn Money Transfer (MTMT), Al-Noor for Money Transfer (MTNN), Al-Waeel for Money Transfer (MTWA), Iraqi Land Transport (SILT), Asia Cell (TASC), Al-Khatem Telecoms (TZNI), Al-Khair Financial Investment (VKHF).
- 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 suspended the trading of AIRP starting on Jul. 12, 2016.
- National for Tourist Investment (HNTI) held its AGM* on Jul. 13, 2016 to discuss and approve 2015 annual financial results, distributing cash dividend, adding real estate investments to company functions, selling the Babylan Land, the feasibility study of company HQ and liquidating capital investments in unproductive joint stock companies. ISX suspended the trading of HNTI starting on Jul. 11, 2016.