Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th Septemner 2014).
The RSISX index ended the week at ID1,539 (+1.5%)/ $1,660 (+1.3%) (weekly change) (-17.5% and -16.4% YTD change, respectively). The number of week traded shares was 11.2bn and the weekly trading volume was ID12.9bn ($19.8mn).
ISX Company Announcements
- Asiacell's (TASC) 6M14 (unaudited) financial results
P&L (Quarterly) – 2Q14: Sales: IQD507bn, -6% y/y, EBITDA: IQD235bn, -20% y/y (EBITDA Margin: 46.3% in 2Q14, decreased from 54.2% in 2Q13), Net Profit: IQD103bn, -38% y/y (Net Profit Margin: 20.4% in 2Q14, decreased from 31.0% in 2Q13). P&L (Cumulative) – 6M14: Sales: IQD1,020bn, -8% y/y, EBITDA: IQD465bn, -19% y/y (EBITDA Margin: 45.6% in 6M14, decreased from 52.1% in 6M13), Net Profit: IQD205bn, -36% y/y (Net Profit Margin: 20.1% in 6M14, decreased from 29.2% in 6M13). Total customer base increased to 11.6mn by end of 6M14, up 9% y/y. B/S – 6M14: Assets: IQD3,077bn, -4% q/q (+3% ytd), BV: IQD1,737bn, -15% q/q (-10% ytd)
- National for Tourist Investment (HNTI) will hold its AGM* on Sep. 14, 2014 to discuss and approve 2013 annual financial results and elect new board members. ISX will suspend trading of HNTI starting Sep. 7, 2014.
- Baghdad for Packing Materials (IBPM) will hold its AGM* on Sep. 11, 2014 to discuss and approve 2013 annual financial results and elect new board members. ISX suspended trading of IBPM starting on Sep. 4, 2014.
- A cross transaction occurred on IQD2.1bn Iraqi Islamic Bank (BIIB) shares on Sep. 4, 2014. This represents 0.8% of BIIB capital.
- Al-Hamraa for Insurance (NHAM) will hold its AGM* on Sep. 9, 2014 to discuss and approve 2012 & 2013 annual financial results and increasing its capital from IQD3bn to IQD5bn through 40% bonus issue. ISX suspended trading of NHAM starting on Sep. 2, 2014. Please note, NHAM is trading in non-regular market.
- Two cross transactions occurred on IQD4.2bn Iraqi Islamic Bank (BIIB) shares on Sep. 2 and Aug. 31. These represent 1.6% of BIIB capital.
- Subscription on 144bn Dijlah & Furat Bank (BDFD) shares started on Sep. 1, 2014 to increase the capital to IQD250bn through 144% rights and 6% bonus issues.