Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd Mar 2016).
The RSISX index ended the week at IQD900 (-3.6%) / $927 (-3.3%) (weekly change) (-17.5% and -19.1% YTD change, respectively). The number of week traded shares was 20.8bn and the weekly trading volume was IQD13.1bn ($10.3mn).
ISX Company Announcements
- Ericsson and Asiacell (TASC) have partnered in a network deal to transform Asiacell’s transmission backbone infrastructure in Iraq, reports Telecompaper. This project enables Asiacell to secure the required technology and capacity to cater for the increased demand for data traffic and improve customer experiences in Iraq in the coming five years. (Iraq Business News)
- Al-Mansour Bank (BMNS) will hold its AGM* on Mar. 9, to discuss and approve 2015 annual financial results. ISX will suspend the trading of BMNS starting on Mar. 6, 2016.
- Al-Rabita Al-Maliya Company (MTRA) will resume trading starting on Mar. 6, 2016 after fulfilling ISC disclosure requirements by disclosing quarterly financial results of 2015 and completing the capital increase from IQD16bn to IQD45bn through 181% rights issue.
- Two cross transactions occurred on 10.5bn shares of Elaf Islamic Bank (BELF) on Feb. 28 and Mar. 2, 2016). These transactions represent 4.2% of BELF capital.
- Elaf Islamic Bank (BELF) announced a change in the ownership percentages of shares. The ownership percentage of Muhammed Abbas Qasim increased to 8.2% in BELF while the ownership percentage of Al-Hasnawy Company for Contracting and General Trading decreased to 1.8%.