Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th Nov 2016).

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

The RSISX index ended the week at IQ913 (-1.2%) / $905 (-1.9%) (weekly change) (-16.2% and -21.0% YTD change, respectively). The number of week traded shares was 8.8bn and the weekly trading volume was IQD7.0bn ($5.4mn).

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ISX Company Announcements

  • The ISC published the instructions of listing, depositing, and trading local (government) bonds on the ISX. The bonds will be traded through ISX brokers and the commissions will be minimum IQD1000 and maximum 0.003 (0.3%) of the bond value.
  • Credit Bank of Iraq (BROI) will hold AGM* on Nov. 24, 2016 to discuss and approve 2015 annual financial results. ISX will suspend trading of BROI starting on Nov. 21, 2016.
  • Bain Al-Nahrain Investment Bank (VMES) will resume trading on Nov. 13, 2016 after discussing and approving 2015 annual financial results.
  • Iraq Baghdad for General Transport (SBPT) resumed trading on Nov. 10, 2016 after discussing and approving 2015 annual financial results and deciding to distribute 80% cash dividend (IQD0.80 cash dividend, 6.0% dividend yield).
  • Elaf Islamic Bank (BELF) will hold AGM* on Nov. 14, 2016 to discuss and approve 2015 annual financial results. ISX suspended trading of BELF starting on Nov. 9, 2016.
  • Mosul Bank for Development and Investment (BMFI) will hold AGM* on Nov. 12, 2016 to discuss and approve 2015 annual financial results. ISX suspended trading of BMFI starting on Nov. 8, 2016. ISX also recorded a violation by BMFI for not notifying to ISX about the company AGM two weeks earlier.
  • Sumer Commercial Bank (BSUC) will hold AGM* on Nov. 13, 2016 to discuss and approve 2015 annual financial results. ISX suspended trading of BSUC starting on Nov. 8, 2016.
  • Two cross transactions occurred on 2bn shares of Iraqi Middle East Investment Bank (BIME) on Nov. 7 and Nov. 8, 2016, which represent 0.8% of BIME capital.
  • Baghdad for Packing Materials (IBPM) resumed trading on Nov. 7, 2016 after discussing and approving 2015 annual financial results.
  • Dar Es Salaam Bank for Investment (BDSI) replied the ISX that the bank’s decision to be delisted was depending on the request of the major shareholders. The bank and the shareholders withdrew their decision to be delisted from the ISX after considering the negative effects and violations according to the CBI instructions, and working with the ISX related with protecting shareholders’ rights. The bank is currently working on finalizing 2015 annual financial results which will be submitted soon.
  • A cross transaction occurred on 300mn shares of Bank of Baghdad (BBOB) on Nov. 6, 2016, which represents 0.12% of BBOB capital.
  • A cross transaction occurred on 24mn shares of Mansour Hotel (HMAN) on Nov. 6, 2016, which represents 0.8% of HMAN capital.
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