Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th Jan 2018).
The RSISX index ended the week at IQD786 (-0.6%) / $809 (-0.6%) (weekly change) (-3.1% and -3.1% YTD change, respectively). The number of week traded shares was 4.2bn and the weekly trading volume was IQD3.9bn ($3.1mn).
ISX Company Announcements
- The Director of the Information Office of the CBI, Acer Jabbar said on Sunday in a statement that “We would like to point out that the first national bonds/issuances are tradable in the Iraqi market for securities as of January 2018, which was launched on March 15, 2016.” “The discount for these bonds is 8% which is payable on March 14, 2018,” Jabbar said. (CBI, Economic Iraq)
- Zain Al-Iraq Islamic Bank for Investment (BZII) will hold AGM* on Feb. 2, 2018 to discuss and approve 2016 annual financial results. ISX will suspend trading of BZII starting Jan. 30, 2018.
- Mouta for Remittance (MTMO) disclosed that it completed the procedure and received the approval of the CBI and companies’ registrar to convert into Ameen Al-Iraq Islamic Bank for investment in December of 2017, and approved increasing the capital from IQD45bn to IQD100bn. ISX will suspend trading of MTMO starting Jan. 21, 2018 until Ameen Al-Iraq bank applies for a listing request.
- Iraqi Middle East Investment Bank (BIME) resumed trading on Jan. 17, 2017 after discussing and approving 2016 annual financial results and deciding to distribute 0.5% cash dividend (IQD0.005 dividend per share, 1.4% dividend yield).
- AL Arabiya Islamic Bank (BAAI) resumed trading on Jan. 15, 2018 after discussing and approving 2016 annual financial results.
- Al-Kindi of Veterinary Drugs (IKLV) resumed trading on Jan. 14, 2018 after fulfilling ISC disclosure requirements and publishing 2016 annual financial results.
- Iraqi Agricultural Products Marketing Meat (AIPM) announced that it started to distribute 5% cash dividend (IQD0.05 dividend per share) from 2016 profit starting Jan. 10, 2018.
- International Islamic Bank (BINT) requested Iraqi Securities Commission (ISC) to keep the bank’s shares suspended from trading until the end of the legal subscription period. Subscription on 150bn shares was extended 60 days starting on Jan. 2, 2018 to increase the capital from IQD100bn to IQD250bn through 150% rights issue.
- Cross Transactions: 1.7bn shares of Al-Qabedh Islamic Bank for Finance & Investment (BQAB) on Jan. 14, 2018, which represents 0.7% of BQAB capital.