Iraq Stock Market Report

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Note: ISX will be closed starting from Sep. 1, 2017 to Sep. 5, 2017 due to the religious holiday of Eid Al-Adha. The next session will be held on Wednesday (Sep. 6, 2017).

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th Aug 2017).

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

The RSISX index ended the week at IQD784 (-0.7%) / $805 (-0.3%) (weekly change) (-18.3% and -15.0% YTD change, respectively). The number of week traded shares was 39.2bn and the weekly trading volume was IQD34.8bn ($27.4mn).

ISX Company Announcements

  • Al-Zawraa for Financial Investment (VZAF) will hold AGM* on Sept. 17, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of VZAF starting Sept. 12, 2017.
  • Original shares of Iraqi for Seed Production (AISP) will resume trading on Aug. 20, 2017 after approving 2016 annual financial results, increasing the capital from IQD7.5bn to IQD10.5bn through 40% bonus issue and deciding to distribute 40% cash dividend (IQD0.40 dividend per share, 5.6% dividend yield).
  • Ahliya for Insurance (NAHF) will hold AGM* on Aug. 28, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of NAHF starting Aug. 23, 2017.
  • Al-Nobles for Money Transfer (MTNO) will hold AGM* on Aug. 24, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of MTNO starting Aug. 21, 2017.
  • Ashur Bank (BASH) postponed its AGM* to Aug. 16, 2017 due to not completing the quorum on Aug. 9, 2017.
  • Fallujah for Construction Materials (IFCM) disclosed that it rehabilitated their site and brought back some employees to work on daily basis starting Apr. 2017. The company is working on to publish its financial results starting 2013. The company stated that it generated IQD71.2mn profit in 2013, corresponding to a 61% y/y decline. The company resumed its operations starting Jul. 1, 2017 and it is now preparing to offer all its services. The company also contacted a number of companies for investment and financing of its operations.
  • Two cross transactions occurred on 24.75bn shares of Al-Arabiya Islamic Bank (BAAI) on Aug. 13 and Aug. 14, 2017, which represent 9.9% of BAAI capital.
  • A cross transaction occurred on 5.5bn shares of Al-Noor for Money Transfer (MTNN) on Aug. 14, 2017, which represents 12.2% of MTNN capital. MTNN held AGM* on Aug. 17, 2017 to discuss and approve 2016 annual financial results. ISX suspended trading of MTNN starting Aug. 16, 2017.
  • A cross transaction occurred on 7.175bn shares of Al-Rabita Al-Maliya company (MTRA) on Aug. 16, 2017, which represents 7.2% of MTRA capital.
  • Iraqi Agricultural Products (AIRP) will hold AGM* on Aug. 21, 2017 to discuss and approve 2016 annual financial results and decide distributing 10% cash dividend (IQD0.10 dividend per share, 1.4% dividend yield). ISX suspended trading of AIRP starting on Aug. 16, 2017.
  • Mamoura Real-estate Investment (SMRI) disclosed the status of the subscription on the capital for the first 20 days. The subscription on the 2.88bn shares opened on Jul. 23, 2017. 2.56bn shares were subscribed and the remaining shares (0.32bn) are still available for subscription.
  • A number of shareholders submitted a complaint about United Bank (BUND) for the postponement of cash dividend distribution since 2014. According to the previous announcement, BUND will start distributing dividend from 2014 profit starting Oct. 1, 2017
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