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: 24th Aug 2017).

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

The RSISX index ended the week at IQD770 (-1.9%) / $793 (-1.5%) (weekly change) (-19.8% and -16.3% YTD change, respectively). The number of week traded shares was 4.7bn and the weekly trading volume was IQD3.1bn ($2.4mn).

ISX Company Announcements

  • The ISX Board of Governors approved on Tuesday (Aug. 15, 2017) the inclusion of the first issue of the national bonds as it fulfilled the bond’s listing requirements according to the instructions. The Board of Governors decided that the limit for price change will be -/+5% per session according to the bond’s listing instructions. It was mentioned that the Iraqi Securities Commission’s (ISC) approval is required to launch the procedures for depositing and trading of this issue of the National Bonds.
  • Baghdad Hotel (HBAG) will hold AGM* on Sept. 10, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of HBAG starting Aug. 31, 2017.
  • Iraqi Agricultural Products (AIRP) will resume trading on Aug. 27, 2017 after discussing and approving 2016 annual financial results and deciding to distribute 10% cash dividend (IQD0.10 dividend per share, 1.4% dividend yield). The opening price will be IQD7.30* per share. (*RS calculation)
  • The subscription on 0.5bn Al-Ameen Financial Investment (VAMF) shares closed on Aug. 10, 2017 to increase the capital to IQD1.5bn through rights issue.
  • Original shares of Al-Ameen Insurance (NAME) resumed trading on Aug. 22, 2017 after discussing and approving 2016 annual financial results and deciding to increase the capital from IQD3.410bn to IQD3.819bn through 12% bonus issue.
  • Commercial Bank of Iraq (BCOI) resumed trading on Aug. 22, 2017 after discussing and approving 2015 annual financial results and deciding to distribute 2.6% cash dividend (IQD0.026 dividend per share, 5.9% dividend yield).
  • Iraqi for Tufted Carpets (IITC) resumed trading on Aug. 22, 2017 after discussing and approving 2016 annual financial results and deciding to distribute 50% cash dividend (IQD0.50 dividend per share, 6.5% dividend yield).
  • Original shares of Iraqi for Seed Production (AISP) resumed trading on Aug.20, 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).
  • Al-Waeel for Money Transfer (MTWA) was delisted from trading starting Aug. 21, 2017 according to ISC and ISX board of governors’ decision.
  • The Company Registrar canceled International Islamic Bank’s (BINT) 150% rights issue to increase the capital to IQD250bn, because the bank did not comply with Article 42 of companies’ law. (Article 42: Subscription period is no less than 30 days and does not exceed 60 days. If the period ended and the subscription did not reach 75% of the nominal capital, the period can be extended no more than 60 days, as long as the founders re-advertise the subscription extension period.)
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