Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th Sept 2015).
Note: There will be no trading session at the ISX from September 23, 2015 to September 27, 2015 due to the national holiday, Eid Al-Adha. The next session will be held on Monday, September 28, 2015.
The RSISX index ended the week at ID1,176 / $1,231 (-1.2%) (weekly change) (-15.6% and -16.9% YTD change, respectively). The number of week traded shares was 2.7bn and the weekly trading volume was IQD3.8bn ($3.1mn).
ISX Company Announcements
- On September 16, the media published the draft of 2016 budget law which will be presented by the Ministry of Finance to the Cabinet.
- According to the CBI announcement to all private banks related with the instructions of providing funds for small and medium enterprises (SMEs), the CBI stated that the goal is to accomplish the economic and social development, and support SMEs and employ the man power with special skills by giving loan for the projects of SMEs. The funds will be provided to SMEs in the following sectors: agricultural sector, industrial sector, housing sector, commercial sector, health, educational, and tourism sector. The amount allocated for the projects will not be more than IQD 1.0trln and the interest rates and administrative margins over the loan amount should not exceed the interest rate of %5.5 in total.
- Original shares of Elaf Islamic Bank (BELF) will resume trading on Sep. 21, 2015 after they approved 2014 annual financial results, increasing its capital from IQD200bn to IQD250bn through 2.50% bonus and 21.95% rights issues at premium price.
- Al-Ameen Estate Investment (SAEI) will hold its AGM* on Oct. 5, 2015 to discuss and approve 2014 annual financial results and electing new board members. ISX will suspend trading of SAEI starting on Sep. 28, 2015.
- New shares of Dar Al-Salam for Insurance (NDSA) from the capital increase to IQD3.509bn through 10% bonus issue will resume trading on Sep. 20, 2015.
- Ashur International Bank (BASH) announced that the bank has begun distributing dividends for 2014 starting on Sep. 15, 2015.
- Baghdad Hotel (HBAG) will hold its AGM* on Sep. 20, 2015 to discuss and approve 2014 annual financial results, electing new board members and distributing cash dividend. ISX suspended trading of HBAG starting on Sep. 13, 2015.
- Investment Bank of Iraq (BIBI) resumed trading on Sep. 13, 2015 after they approved 2014 annual financial results and distributing 8% cash dividend (IQD0.08 price per share).
- ISX is requiring the following companies to complete their listing procedures on the ISX: International Development Bank for Investment and Finance, Region Trade Bank for Investment and Finance, Silsilat Al-Thahab for Money Transfer, Iraqna Company for Money Transfer, Fences Company for Money Transfer, Al-Taib Company for Money Transfer and Tigris and Euphrates River Banks Company for Money Transfer.