Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 29th Sept 2016).

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

The RSISX index ended the week at IQ772 (+1.7%) / $765(+0.9%) (weekly change) (-29.1% and -33.2% YTD change, respectively). The number of week traded shares was 17.2bn and the weekly trading volume was IQD5.8bn ($4.4mn).

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ISX Company Announcements

  • The ISC issued online trading instructions of 2016 for the clients. Currently, the ISX working with the provider of this service to finalize the technical issues, and accordingly, it will issue and publish the details of the procedures.
  • Al-Zawraa for Financial Investment (VZAF) will hold AGM* on Oct. 11, 2016 to discuss and approve 2015 annual financial results.
  • Ahliya for Insurance (NAHF) will hold AGM* on Oct. 10, 2016 to discuss and approve 2015 annual financial results. ISX will suspend trading of NAHF starting on Oct. 5, 2016.
  • Iraqi Carton Manufactories (IICM) will resume trading on Oct. 2, 2016 after fulfilling ISC disclosure requirements and publish 2015 annual financial results.
  • Al-Nukhba for General Construction (SNUC) will resume trading on Oct. 2, 2016 after discussing and approving 2015 annual results.
  • ISX announced the regulations relating to trading the shares of delisted companies. The buyer and seller must enter an agreement contract, with the presence of a personal appointed by the company.
  • Mosul Bank for Development and Investment (BMFI) will be suspended from trading on Oct. 2, 2016 if the company fails to explain why the prices have touched the higher limit in the last two trading sessions (Sep. 28-29, 2016).
  • A cross transaction occurred on 10bn shares of United Bank (BUND) on Sep. 28, 2016, which represents 3.3% of BUND capital.
  • Al-Taib for Money Transfer disclosed that it is going through procedures to converting the company activities into an Islamic bank.
  • ISX announced that Al-Iraqia for Money Transfer (MTIR) has completed the CBI and ISC procedures to convert into International Islamic Bank (BINT) with a capital of IQD100bn.
  • ISX announced that Sama Baghdad Finance Transfer (MTSB) has completed the CBI and ISC procedures to convert into Iraq Noor Islamic Bank for Investment and Finance (BINI) with a capital of IQD250bn.
  • ISX wrote to the ISC on Sep. 25, 2016 by highlighting CBI letter about the deficient banks. The ISX Board of Governors took the following decisions about these listed banks: Dar Es Salam Bank (BDSI) and North Bank (BNOR) will continue to be suspended from trading which were suspended for not disclosing 2015 annual financial results. Dijlah and Furat Bank (BDFD) was suspended from trading starting on Sep. 25, 2016.
  • Middle East Production and Marketing Fish (AMEF) resumed trading on Sep. 25, 2016 after discussing and approving 2015 annual financial results and deciding to distribute 20% cash dividend (IQD0.2 dividend per share, 2.8% dividend yield).
  • Al-Maraj Al-Alamiya for Money Transfer (MTMR) started trading on Sep. 25, 2016 after completing the listing procedures.
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