Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st Sept 2016).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQ740 (-1.1%) / $745 (-1.1%) (weekly change) (-32.1% and -35.0% YTD change, respectively). The number of week traded shares was 2.7bn and the weekly trading volume was IQD2.0bn ($1.6mn).

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ISX Company Announcements

  • Al-Mansour Pharmaceutical Industries (IMAP) will hold AGM* on Oct. 1, 2016 to discuss and approve 2015 annual financial results. ISX will suspend trading of IMAP starting on Sep. 27, 2016.
  • ISX announced that the Formerly United Arab Money Transfer (MTUA) has completed the CBI and ISC procedures to convert into Al-Arabiya Islamic Bank (BAAI) with a capital of IQD100bn. BAAI started trading on Sept. 1, 2016 in non-regular market. ISX will suspend trading of BAAI starting on Sep. 6, 2016 due to the general meeting that will be held on Sep. 9, 2016.
  • ISX announced that Al-Maraj Al-Alamiya for Money Transfer (MTMR), with capital of IQD100bn, will start trading in the secondary market after depositing and activating 5% of the listed shares or after 21 days of deposing the company’s shares.
  • Al-Nobles for Money Transfer (MTNO) will hold AGM* on Sept. 5, 2016 to discuss and approve 2015 annual financial results. ISX suspended trading of MTNO starting on Aug. 31, 2016.
  • Credit Bank of Iraq (BROI) resumed trading on Aug. 30, 2016 after fulfilling ISC disclosure requirements and publishing 2015 annual financial results.
  • Gulf Commercial Bank (BGUC) held its AGM on Aug. 27, 2016. In the AGM, BGUC discussed and approved 2015 annual financial results and approved distributing 1% cash dividend (IQD0.01 dividend per share).
  • Babylon Bank (BBAY) resumed trading on Aug. 29, 2016 after fulfilling ISX disclosure requirements and publishing 2015 annual financial results.
  • Modern Chemical Industries (IMCI) held AGM* on Sept. 2, 2016 to discuss and approve 2015 annual financial results, distributing cash dividends and increasing its capital through bonus issue. ISX suspended trading of IMCI starting on Aug. 29, 2016.
  • ISX announced the Disciplinary Committee decisions about the following companies: 1) The companies located in dangerous zone will not pay their annual listing fees until their zones will be liberated: Fallujah for Construction Materials (IFCM), Al-Mosul for Funfairs (SMOF), Modern Construction Material Industry (IMCM), National Household Furniture Industry (IHFI), Ashour Hotel (HASH), Al-Khazer for Construction Materials (IKHC). 2) The case of Al-Sadeer Hotel (HSAD) was closed after fulfilling ISX requirement and paying the annual listing fees on Aug. 16, 2016. (HSAD resumed trading on Aug.17, 2016) 3) The Light Industries (ITLI) and Al-Hilal Industries (IHLI) have to pay their listing fees till Nov. 1, 2016; otherwise they will be fined IQD1mn.
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