Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th Feb 2017).
The RSISX index ended the week at IQ1073 (-0.3%) / $1079 (-0.3%) (weekly change) (+12.1% and +14.3% YTD change, respectively). The number of week traded shares was 35.4bn and the weekly trading volume was IQD31.5bn ($24.4mn).
ISX Company Announcements
- The CBI Governor Mr. Ali Muhsin Ismail Al-Allaq signed an MOU with the British Ambassador Frank Baker to develop and improve the procedures of counter money laundry and financing terrorism. The CBI clarified that the MOU included a financial grant provided to the CBI to be used in making courses and training workshops with international organizations to develop counter money laundry and financing terrorism. (CBI)
- Economy Bank for Investment (BEFI) will resume trading on Feb. 12, 2017 after fulfilling ISC disclosure requirements and publishing 2013, 2014, 2015 annual and quarterly financial results (6M14, 9M14, 3M15, 6M15, 9M15, 3M16, 6M16 and 9M16). CBI lifted the custody over BEFI on Feb. 2, 2017 and the management was handed to the CEO Mr. Sahib Badr Abud. BEFI completed the capital increase from IQD150.0bn to IQD207.15bn on Jun. 4, 2014 through 13.3% bonus issue and 24.8% rights issue. The last closing price was IQD0.72 and the price will have +/-50% change for the first session. (Adjusted closing price calculation of RS for the last closing price of BEFI is IQD0.70)
- North Bank (BNOR) will resume trading on Feb. 12, 2017 after fulfilling ISC disclosure requirements and publishing 2015 annual financial results.
- Babylon Bank (BBAY) resumed trading on Feb. 9, 2017 after discussing and approving 2014 and 2015 annual financial results.
- Two cross transactions occurred on 19.0bn shares of Zain Islamic Bank for Investment (BZII) on Feb. 5 and Feb. 8, 2017 which represent 7.6% of BZII capital.
- A cross transaction occurred on 9bn shares of Mosul Bank for Development and Investment (BMFI) on Feb. 5, 2017 which represent 3.6% of BMFI capital.
- Metallic and Bicycles Industries (IMIB) will hold AGM* on Feb. 28, 2017 to discuss and approve 2015 annual financial results.
- Electronic Industries (IELI) will hold AGM* on Feb. 12, 2017 to discuss and approve 2014 annual financial results.
- Al-Kindi of Veterinary Vaccines Drugs (IKLV) will hold AGM* on Feb. 12, 2017 to discuss and approve 2015 annual financial results. ISX suspended trading of IKLV starting on Feb. 7, 2017.
- The ISX board of governors assigned a committee to follow up on the companies that have not fulfilled the disclosure requirements: Dar Es Salaam Bank (BDSI), National Household Furniture Industries (IHFI), Modern Construction Materials Ind. (IMCM), Al-Mousil for Funfair and Tourism (SMOF), Iraqi for General Transport (SIGT), Metallic and Bicycles Ind. (IMIB), Animal and Agricultural Production (AMAP), Al-Waeel for Money Transfer (MTWA), Al-Khair for Financial Inv. (VKHF), Fallujah for Construction Materials (IFCM), Electronic Ind. (IELI), Light Ind. (ITLI), Modern Paint Industries (IMPI), Iraqi for Seed Production (AISP) and Al-Muhej for Money Transfer (MTAM).