Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th Sept 2018).
The RSISX index ended the week at IQD717 (-2.4%) / $766 (-2.4%) (weekly change) (-11.6% and -8.3% YTD change, respectively). The number of week traded shares was 4.4bn and the weekly trading volume was IQD2.4bn ($1.9mn).
ISX Company Announcements
- Al Taif Money Transfer (MTAI) will hold an AGM* on Sep. 23, 2018 to discuss and approve 2017 annual financial results. The company has been suspended from trading since Dec. 12, 2017 related with its decision to being converted into an Islamic bank.
- Kirkuk for Producing (IKFP) will hold an AGM* on Sep. 15, 2018 to discuss and approve 2009, 2011, 2012, 2013 and 2014 annual financial results. In the AGM, the company will elect five original and alternative BoDs and discuss re-list shares of IKFP on the ISX. (Note: IKFP has been delisted from the ISX in Dec. 2013)
- National Company for Tourism Investment (HNTI) resumed trading on Sep. 6, 2018 after discussing and approving 2017 annual financial results and to distribute 7% cash dividend (IQD0.07 dividend per share, 0.9% dividend yield).
- Iraqi Islamic Bank (BIIB) will hold an AGM* on Sep. 8, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BIIB starting Sep. 4, 2018.
- Credit Bank of Iraq (BROI) resumed trading on Sep. 4, 2018 after disclosing 2017 annual financial results.
- Region Trade Bank for Investment and Finance (BRTB) resumed trading on Sep. 3, 2018 after discussing and approving 2017 annual financial results.
- ISX requested National Household Furniture Industry (IHFI) on Sep. 3, 2018 to disclose the subscription results.
- According to a letter sent by ISC to Economy Bank for Investment (BEFI) on Sep. 3, 2018, ISC decided to continue the suspension of BEFI in the ISX until the submission of full and clear financial statements by BEFI which will be prepared according to the accounting standards and audited.
- Iraqi Islamic Bank (BIIB) disclosed that one of its shareholders (Srwa Amer Khdheir Al-Kubaisy) sold all of its 12.3 bn shares on Aug. 30, 2018, corresponding to 4.93% of BIIB paid-in capital.
- Cross Transaction: 255 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Sep. 5, 2018, which represents 0.1% of BCIH capital.