Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th Sept 2018).
The RSISX index ended the week at IQD700 (-0.8%) / $748 (-0.6%) (weekly change) (-13.7% and -10.5% YTD change, respectively). The number of week traded shares was 5.6 bn and the weekly trading volume was IQD3.3 bn ($2.7 mn).
ISX Company Announcements
- The ISC invited the holders of the National Bonds / Second Issuers to deposit and register the bonds they hold in the IDC and to sell them during the period of the continuous session from 10 am to 12 pm until the maturity date on Apr. 2, 2019. The percentage change will be 5% within the upper and lower limits after the completion of all the procedures required in accordance with the instructions of government bonds.
- The ISC sent a letter to Bank of Baghdad (BBOB) regarding the calculation of provisions in its 2017 annual report. ISC requested the bank to provide facts and procedures regarding calculating the provisions and whether or not they were calculated according to the accounting standards and the instructions of the CBI.
- ISX requested Al-Janoob Islamic Bank (BJAB) to provide names of high authority members in the bank (BoDs and their representatives, the CEO, Finance Manager, as well as internal and external auditors).
- Baghdad for Packing Materials (IBPM) will hold an AGM* on Oct. 11, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of IBPM starting Oct. 8, 2018.
- Ishtar Hotel (HISH) will hold a GA on Oct. 3, 2018 to discuss the hotel’s investments. The company has been suspended from trading since Aug. 8, 2018 by an ISC decision for not disclosing 2017 annual financial results.
- Gulf Insurance and Reinsurance (NGIR) will hold an AGM* on Oct. 3, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of NGIR starting Sep. 30, 2018
- Al-Zawraa for Financial Investment (VZAF) will resume trading on Sep. 30, 2018 after discussing and approving 2017 annual financial results.
- ISX announced that Asia Al Iraq Islamic Bank for Investment and Finance (BAIB), having IQD100 bn paid-in capital, has completed the listing procedures. BAIB will start trading after depositing and activating 5% of the listed shares or after 21 days of depositing the company’s shares.
- Baghdad Soft Drinks (IBSD) invited its shareholders to visit the company’s headquarter starting Oct. 15, 2018 to receive their cash dividends of 2017.
- Cross Transactions: 510 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Sep. 23 and Sep. 26, 2018, which represent 0.2% of BCIH capital.