Iraq Stock Market Gains 11% on Week

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th Oct 2016).

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

The RSISX index ended the week at IQ883 (+2.7%) / $875 (+11.3%) (weekly change) (-19.0% and -23.6% YTD change, respectively). The number of week traded shares was 24.3bn and the weekly trading volume was IQD11.2bn ($8.5mn).

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ISX Company Announcements

  • Bain Al-Nahrain Investment (VMES) will hold AGM* on Nov. 8, 2016 to discuss and approve 2015 annual financial results. ISX will suspend trading of VMES starting on Nov. 3, 2016.
  • Baghdad for Packing Materials (IBPM) will hold AGM* on Nov. 3, 2016 to discuss and approve 2015 annual financial results. ISX will suspend trading of IBPM starting on Oct. 31.
  • Iraq Baghdad for General Transport (SBPT) will hold AGM* on Nov. 1, 2016 to discuss and approve 2015 annual financial results and renting part of the company land for 18 months. ISX will suspend trading of SBPT starting on Oct 27, 2016.
  • Iraqi for Tufter Carpets (IITC) will hold AGM* on Oct. 26, 2016 to discuss and approve 2015 annul financial results and decide on distributing 25% cash dividends. ISX will suspend trading of IITC starting on Oct. 23, 2016.
  • Al-Zawraa for Financial Investment (VZAF) will resume trading on Oct. 23, 2016 after discussing and approving 2015 annual financial results.
  • Al-Ahlyia for Agricultural Production (AAHP) will hold AGM* on Oct. 25, 2016 to discuss and approve 2015 annual financial results and distributing 50% cash dividends (IQD0.50 dividend per share). ISX suspended trading of AAHP starting on Oct. 20, 2016.
  • Palestine Hotel (HPAL) resumed trading on Oct. 20, 2016 after fulfilling ISC disclosure requirements and publishing 2015 annual financial results.
  • Baghdad Soft Drinks (IBSD) resumed trading on Oct. 16, 2016 after discussing and approving 2015 annual financial results and distributing 10% cash dividend (IQD0.10 dividend per share). The Company Registrar has approved the AGM decisions except the item that includes merging with Ynabee’ Al Zawraa Company.
  • Gulf Commercial Bank (BGUC) resumed trading on Oct. 16, 2016 after discussing and approving 2015 annual financial results and distributing 1% cash dividend (IQD0.01 dividend per share, 2.6% dividend yield).
  • Ready Made Clothes (IRMC) will be suspended from trading on Oct. 23, 2016 if the company fails to explain why the prices have touched the higher limit in the last two trading sessions (Oct. 19-20, 2016).
  • A cross transaction occurred on 15bn shares of Mosul Bank for Development and Investment (BMFI) on Oct. 16, 2016, which represents 5.9% of BMFI capital.
  • Mosul Bank for Development and Investment (BMFI) disclosed the resignation of the current CEO, Salih Abdul-Razaq Ahmed. The deputy CEO, Qaidar Abdul-Rahman Abdullah, will assume responsibility until the procedures for assigning the new CEO, Abbas Muslim Ali, will be completed.
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