Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th May 2017).
The RSISX index ended the week at IQD868 (+2.0%) / $895 (+2.0%) (weekly change) (-9.5% and -5.5% YTD change, respectively). The number of week traded shares was 22.3bn and the weekly trading volume was IQD9.5bn ($7.5mn).
ISX Company Announcements
- CBI announced giving out payments to contractors through local bonds by announcing 16 not-listed companies to receive their payments through this way. (CBI)
- Mosul Bank for Development and Investment (BMFI) will hold AGM* on Jun. 6, 2017 to discuss and approve 2015 annual financial results and discuss relocating company HQ from Erbil to Baghdad. ISX will suspend trading of BMFI starting on Jun. 1, 2017.
- Al-Wiaam for Financial Investment (VWIF) will hold AGM* on Jun. 15, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of VWIF starting on Jun. 12, 2017.
- Al-Nibal Al-Arabya for Money Transfer (MTNI) will hold AGM* on Jun. 1, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of MTNI starting on May 29, 2017.
- International Development Bank for Investment (BIDB), which has IQD250bn paid-in capital, has completed depositing its shares in the IDC and started trading in non-regular market on May 23, 2017. The opening price will be free for the first three trading sessions, and after this period, price will be able to change with +/-20% limit per day.
- A cross transaction occurred on 15.7bn shares of Babylon Bank (BBAY) on May 22, 2017, which represents 6.3% of BBAY capital.
- A cross transaction occurred on 600mn shares of Mosul Bank for Development and Investment (BMFI) on May 22, 2017, which represents 0.2% of BMFI capital.
- Iraqi Carton Manufactories (IICM) resumed trading on May 22, 2017 after discussing and approving 2015 annual financial results.
- Trans Iraq Bank for Investment (BTRI) held AGM* on May 25, 2017 to discuss and approve 2016 annual financial results and writing off the IQD492mn of the doubtful loans from the doubtful loans provision for not being able to obtain it. ISX suspended trading of BTRI starting on May 22, 2017.
- United Bank (BUND) replied ISX recommendations that the bank owns a diverse fund that is disclosed. The administration constantly works to fix all problems regarding any blocked amounts of money. The bank will organize a seminar during its next AGM to discuss the matters of its shareholders and the disclosure of its financial information. The bank takes great care of its publicity and advertises its services constantly through seminars, summits and workshops.