Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 22nd Sept 2016).
The RSISX index ended the week at IQ760 (+2.5%) / $759 (+2.5%) (weekly change) (-30.3% and -33.8% YTD change, respectively). The number of week traded shares was 3.7bn and the weekly trading volume was IQD2.6bn ($2.0mn).
ISX Company Announcements
- CBI approved banking license of International Islamic Bank on Sep. 19, 2016. The bank must complete CBI’s capital increase requirements within three years of the license issue. The bank was Al-Iraqia Money Transfer (MTIR) and now converting to International Islamic Bank. (CBI.iq)
- Al-Mansour Pharmaceutical Industries (IMAP) will hold AGM* on Oct. 1, 2016 to discuss and approve 2015 annual financial results. ISX will suspend trading of IMAP starting on Sep. 27, 2016.
- ISX announced on Sep. 22, 2016 that the formerly Al-Motaman for Money Transfer (MTMT) has completed the CBI and ISC procedures to convert into Zain Al-Iraq Islamic Bank for Investment and Finance (BZII) with a capital of IQD100bn.
- Iraqi for Seed Production (AISP) will hold AGM* on Sep. 29, 2016 to discuss and approve 2015 annual financial results, amend the financial year to begin on Jan. 1st and end on Dec. 31st, rent its location in Abu Ghareeb to Middle East University for eight years, rent the land of Al-Lutaifya, invest a land in Nasrya and purchase two lands in Dyala and Baghdad. ISX will suspend trading of AISP starting on Sep. 26, 2016.
- Middle East Production and Marketing Fish (AMEF) will resume trading on Sep. 25, 2016 after discussing and approving 2015 annual financial results and deciding to distribute 20% cash dividends (IQD0.2 dividend per share, 2.8% dividend yield). The opening price will be IQD6.9 for the first trading session.
- Al-Maraj Al-Alamiya for Money Transfer (MTMR) will start trading on Sep. 25, 2016 after completing the listing procedures. The price will be free for the first three sessions and then will be traded with +/-20% change.
- Al-Nukhba for General Construction (SNUC) will hold AGM* on Sep. 27, 2016 to discuss and approve 2015 annual financial results. ISX suspended trading of SNUC starting on Sep. 21, 2016.
- Asiacell (TASC) resumed trading on Sep. 20, 2016 after fulfilling ISC requirements and publishing 2015 annual and 3M16 and 6M16 interim financial results.
- Ishtar Hotel (HISH) resumed trading on Sep. 18, 2016 after fulfilling ISC disclosure requirements and publishing 2015 annual financial results.