Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th Jan 2017).
The RSISX index ended the week at IQ1001 (+4.3%) / $992 (+4.7%) (weekly change) (+4.3% and +4.7% YTD change, respectively). The number of week traded shares was 6.9bn and the weekly trading volume was IQD6.6bn ($5.0mn).
ISX Company Announcements
- Al-Ameen Financial Investment (VAMF) will hold its AGM* on Jan. 17, 2017 to discuss and approve 2015 annual financial results and increasing its capital by 50% through rights issue. ISX will suspend trading of VAMF starting on Jan. 12, 2017.
- The following companies were suspended from trading starting from Jan. 5, 2017 for not fulfilling ISC disclosure requirements and publishing 9M16 financial results: Iraqi Land Transport (SILT), Al-Khair Financial Investment (VKHF), Zain Al-Iraq Islamic Bank for Investment and Finance (BZII), International Islamic Bank (BINT), Al-Arabiya Islamic Bank (BAAI). The following companies were already suspended: Economy Bank for Investment (BEFI), Iraqi for General Transportation (SIGT), The Light Industries (ITLI), Modern Paint Industries (IMPI), Al-Muhej Money Transfer (MTAM), Al-Waeel for Money Transfer (MTWA). The following companies are in danger zone and were already suspended: Al-Mosul for Funfairs (SMOF), National Household Furniture Industry (IHFI), Fallujah for Construction Materials (IFCM), Modern Construction Materials Industry (IMCM). The companies located in danger zone must make a disclosure regarding the overall conditions of the company in order to resume trading.
- Mansour Hotel (HMAN) resumed trading on Jan. 4, 2017 after discussing and approving 2015 annual financial results. A cross transaction occurred on 80.8mn shares of HMAN on Jan. 5, 2017, which represents 2.8% of HMAN capital.
- Upon the GA meeting between Baghdad Soft Drinks (IBSD) and Yanabee Al-Zawraa (Aquafina), the companies approved the article of association for the merger with the capital of IQD177.3bn. ISX requested ISC advice for the original shares of IBSD to resume trading (for IQD133bn capital) and depositing the new shares (IQD44.3bn shares) after the approval of the Companies Registrar.
- Ishtar Hotels (HISH) resumed trading on Jan. 3, 2017 after discussing and approving 2015 annual financial results and distributing 20% cash dividend (IQD0.20 dividend per share, 1.5% dividend yield).
- ISX requested Dar Es Salaam Investment Bank (BDSI) on Jan. 2, 2017 to disclose the status regarding the CBI custody over the bank.
- ISX requested Dijlah & Furat Bank for Investment (BDFD) on Jan. 2, 2017 to disclose the status regarding the CBI custody over the bank. BDFD will hold AGM* on Jan. 10, 2017 to discuss and approve 2015 annual financial results and increasing its capital through bonus issue. ISX suspended trading of BDFD starting on Jan. 5, 2017.