Note: ISX will be closed on Tuesday (Nov. 20, 2018) due to a religious holiday (Birth of the Prophet). The next trading session will be on Wednesday (Nov. 21, 2018).
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th November 2018).
The RSISX index ended the week at IQD664 (+1.6%) / $711 (+1.6%) (weekly change) (-18.1% and -14.9% YTD change, respectively). The number of week traded shares was 49.2 bn and the weekly trading volume was IQD18.3 bn ($15.1 mn).
ISX Company Announcements
- ISX will suspend trading of Asiacell (TASC) starting Nov. 20, 2018 due the AGM* which will be held on Nov. 26, 2018 to discuss and approve 2017 annual financial results.
- The national bonds owned by Al-Kindi of Veterinary Vaccines Drugs (IKLV) will start trading on the ISX on Nov. 18, 2018. The total number of the bonds that will start trading is 350 and each of them are from IQD5,000,000 category (ISX ticker: CBI25). Opening price for each bond will be IQD5,252,945 (IQD5,000,000 (price of the bond) + IQD252,945 (interest)) with +/-5% price change limit, and thus, the total value of the bonds that will start trading be IQD1,838,530,750 (350 X IQD5,252,945). Annual interest of the bond is 8% and the bond maturity date is Apr. 2, 2019.
- Original shares of Dar Al-Salam for Insurance (NDSA) will resume trading on Nov. 18, 2018 after deciding to increase the capital from IQD5.0 bn to IQD7.0 bn through 40% rights issue. The opening price will be IQD0.64 with +/-50% price change limit for the first session and after that, price will be able to change with +/-20% limit per day.
- Palastine Hotel (HPAL) will resume trading on Nov. 18 due to disclosing 2017 annual financial results.
- The National Bank of Iraq (BNOI) signed a trade finance agreement on Tuesday with the International Finance Corporation (IFC), a member of the World Bank Group, to help the bank’s client businesses access global markets, boosting trade and spurring economic growth. In addition, a Memorandum of Understating (MOU) was also signed between the two parties whereby the IFC will provide NBI with support related to the field of Corporate Governance. (BNOI Website)
- Baghdad Hotel (HBAG) resumed trading Nov. 13, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 44% cash dividend (0.44% dividend per share, 4.9% dividend yield).
- Cross Transactions: 44.6 bn shares of Zain Al-Iraq Islamic Bank (BZII) on Nov. 14, 2018, which represents 17.8% of BZII capital.