Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 26th Nov 2015).
The RSISX index ended the week at ID954 / $998 (+2.2%) (weekly change) (-31.5% and -32.6% YTD change, respectively). The number of week traded shares was 9.5bn and the weekly trading volume was IQD6.3bn ($5.1mn).
ISX Company Announcements
- Baghdad Soft Drinks (IBSD), which has the exclusive license to sell PepsiCo Inc. products in Iraq, is in advanced talks to buy two local companies as demand increases for soft drinks in the country because of the closure of the border with Syria and Jordan due to the war on Islamic State, which has cut imports into Iraq and increased demand for Baghdad Soft Drinks products. The company is in negotiations to buy Iraq’s Ibdaa al-Khair that has PepsiCo bottling rights in southern Iraq and FZTC that has bottling and distribution rights for PepsiCo’s Aquafina bottled water brand throughout the country. (Bloomberg)
- Mansour Hotel (HMAN) will hold its AGM on Dec. 10, 2015 to discuss and approve 2014 annual financial results, covering the deficit by the available reserves, managing the hotel by international companies and investing a land. ISX will suspend trading of HMAN starting on Dec. 7, 2015.
- Commercial Bank of Iraq (BCOI) will hold its AGM* on Dec. 8, 2015 to discuss and approve 2014 annual financial results and distributing 3.3% cash dividend (IQD0.033 price per share). ISX will suspend trading of BCOI starting on Dec. 3, 2015.
- United Bank (BUND) will hold its AGM* on Dec. 3, 2015 to discuss and approve 2014 annual financial results. ISX will suspend trading of BUND starting on Nov. 30, 2015. BUND announced that it has fulfilled all of its commitments to the CBI and has paid the penalty of IQD2.2bn.
- The shares of Al-Badia for General Trans (SBAG) will resume trading on Nov. 29, 2015 after the company approved 2014 annual financial report.
- New shares of Al-Nibal Al-Arabya for Money Transfer (MTNI) from the capital increase from IQD30bn to IQD45bn through 50% rights issue resumed trading on Nov. 26, 2015.
- The shares of Union Bank of Iraq (BUOI) and Al-Hilal Industries (IHLI) resumed trading on Nov. 25, 2015 after the bank approved 2014 annual financial results.
- A cross transaction occurred on 3.1bn shares of Ashur International Bank (BASH) on Nov. 24, 2015. This represents 1.3% of BASH capital.
- Original shares of Ishtar Hotel (HISH) resumed trading on Nov. 23, 2015 after approving 2014 annual financial results, increasing its capital from IQD2.25bn to IQD3.50bn through 55.6% bonus issue and covering the remaining 30% of the deficit from the accumulated surplus.
- Al-Iraqia for Money Transfer (MTIR) shares resumed trading starting on Nov. 23, 2015 after fulfilling ISC’s disclosure requirements by disclosing 6M15 financial results.
- Gulf Commercial Bank (BGUC) will hold an exceptional General Assembly Meeting on Dec. 13, 2015 to elect 5 board members and 5 alternative board members.