Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th Jan 2018).
The RSISX index ended the week at IQD802 (-1.1%) / $826 (-1.1%) (weekly change). The number of week traded shares was 1.4bn and the weekly trading volume was IQD1.2bn ($1.0mn).
ISX Company Announcements
- The Central Bank of Iraq (CBI) issued a new condition on the brokerage companies to sell and buy foreign currencies to continue to enter the currency sale window. The bank said in a statement that it was decided to deposit IQD100mn in the insurance account with the CBI instead of letters of guarantee. The bank added that “the last period to complete the deposit is on 31 January. The bank has set new conditions and instructions on banks and brokerage companies to enter the currency sale window to prevent corruption and trading in hard currency. (CBI, Economic Iraq)
- The bonds will be traded in the ISX according to the government’s bonds instructions as of January 2018. Depositing the bonds started on Jan. 2, 2018 in the Iraqi Depository Center.
- Al-Ahlyia for Agricultural Production (AAHP) will hold AGM* on Jan. 25, 2018 to discuss and approve the financial results of the year ending Mar. 31, 2017. ISX will suspend trading of AAHP starting Jan. 21, 2018.
- Al-Ameen Estate Investment (SAEI) will hold AGM* on Jan. 17, 2018 to discuss and approve 2016 annual financial results. ISX will suspend trading of SAEI starting Jan. 14, 2018.
- Al -Khazer for Construction Materials (IKHC) will hold AGM* on Jan. 15, 2018 to discuss and approve 2016 annual financial results.
- Kurdistan International Bank (BKUI) completed the procedures and received the approval of the Companies’ Registrar on Dec. 24, 2017 of changing the company name into Kurdistan Islamic International Bank for Investment and Development.
- New shares of Al-Ameen Insurance (NAME) from the capital increase to IQD3.81bn through 12% bonus issue were deposited into the shareholders’ accounts. (Source: IDC)
- Subscription on 150bn International Islamic Bank (BINT) shares was extended 60 days starting Jan. 2, 2018 to increase the capital from IQD100bn to IQD250bn through 150% rights issue.
- The subscription for the shares of Rabee Securities was closed as of Dec. 25, 2017.