Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th Mar 2018).
The RSISX index ended the week at IQD939 (-0.5%) / $990 (-0.7%) (weekly change) (+15.7% and +18.5% YTD change, respectively). The number of week traded shares was 9.9bn and the weekly trading volume was IQD6.9bn ($5.6mn).
ISX Company Announcements
- ISX announced that no bond from the first issue has been deposited due to the short listing period. ISX closed their trading channels on Mar. 5, 2018 for the first issued bond because the maturity date of the first issued bond is Mar. 14, 2018 according to the instructions of bonds trading.
- The Central Bank of Iraq (CBI) organized a workshop aimed at introducing the project to settle the salaries of state employees in the office of the province of Maysan. A number of Iraqi banks participated in the workshop. (CBI)
- Erbil Bank for Investment and Finance (BERI), having IQD265bn paid-in capital, started depositing their shares and will start trading in the non-regular market on Mar 27, 2018. The price will be free for the first three sessions and then will have +/-20% price change limit.
- Al-Khatem Telecom (TZNI) will hold AGM* on Mar. 13, 2018 to discuss and approve 2016 annual financial results. ISX suspended trading of TZNI starting on Mar. 8, 2018.
- Gulf Insurance and Reinsurance (NGIR) will hold AGM* on Mar. 12, 2018 to discuss and approve 2016 annual financial results. ISX suspended trading of NGIR on Mar. 7, 2018.
- Iraqi Agricultural Products (AIRP) will hold a GA on Mar. 8 to elect five BoD members, as private sector representatives. ISX suspended trading of AIRP on Mar. 5 and AIRP will resume trading on Mar. 11, 2018.
- ISC decided on Mar. 4, 2018 to keep Zain Al-Iraq Islamic Bank for Investment (BZII) suspended from trading until the bank discloses the reason for not completing the quorum on Feb. 11, 2018.
- Al Taif Money Transfer (MTAI), having IQD100bn paid-in capital, has completed procedures to convert the company from a money transfer company into an Islamic Bank. The name of the bank will be Al Taif Islamic Bank.
- According to the letter of Companies’ Registrar published by the ISX on Thursday, Companies’ Registrar confirmed that Rabee Securities completed all the required legal procedures to convert the company from a Limited Liability Company into a Private Joint Stock Company by increasing its capital from IQD2.00 bn to IQD2.05 bn.