Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th Oct 2017).

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

The RSISX index ended the week at IQD759 (-1.4%) / $778 (-1.4%) (weekly change) (-21.0% and -17.8% YTD change, respectively). The number of week traded shares was 2.8bn and the weekly trading volume was IQD1.8bn ($1.4mn).

ISX Company Announcements

  • Metallic & Bicycles Industries (IMIB) will hold AGM* on Oct. 25, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of IMIB starting Oct. 22, 2017.
  • Al-Mansour Pharmaceuticals Industries (IMAP) will hold AGM* on Oct. 23, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of IMAP starting Oct. 18, 2017.
  • Region Trade Bank for Investment and Finance (BRTB) will hold AGM* on Oct. 22, 2017 to discuss and approve 2016 annual financial results. BRTB started trading on Oct. 5, 2017.
  • Iraqi Engineering Works (IIEW) will hold AGM* on Oct. 15, 2017 to discuss and approve 2016 annual financial results. ISX will suspend trading of IIEW starting Oct. 10, 2017.
  • Iraqi Middle East Investment Bank (BIME) will resume trading on Oct. 8, 2017 after fulfilling ISC disclosure requirements and publishing 2016 annual financial results.
  • ISX suspended trading of the following companies starting Oct. 5, 2017 for not fulfilling ISC disclosure requirements and publishing 6M17 financial results: Dar Al-Salam for Insurance (NDSA), National Company for Tourism Investment (HNTI), Ishtar Hotels (HISH), International Islamic Bank (BINT), International Development Bank (BIDB) and Al-Khair Finacial Investment (VKHF).
  • The ISC reviewed the annual and quarterly results and auditor’s report of Economy Bank for Investment (BEFI) and stated that the bank’s documents did not comply with the requirements of the ISC and decided to keep the bank suspended from trading.
  • According to Al-Karada court decision, the selling period of Al-Bilad Islamic Bank (BLAD) shares owned by Abdul-Jalal Said Batti for the payment of debt to Al-Mansour Bank (BMNS) has been extended to Oct. 5, 2017. 5.0mn out of 2.7bn shares of BLAD owned by Abdul-Jalal Said Batti were sold on Oct. 2, 2017.
  • Al-Ameen Financial Investment (VAMF) said that the Companies’ Registrar did not provide the company the procedures for closing subscription. VAMF will provide the ISC, ISX and IDC a copy of the company’s subscription closure procedures when it is received from the Companies’ Registrar.
  • Baghdad Hotel (HBAG) announced that it started distributing 47% cash dividend (IQD0.47 dividend per share, 5.0% dividend yield) from 2016 profit starting on Oct. 5, 2017.
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