Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 24th January 2019).
The RSISX index ended the week at IQD643 (+0.1%) / $692 (+0.3%) (weekly change) (-2.5% and -2.5% YTD change, respectively). The number of week traded shares was 4.3 bn and the weekly trading volume was IQD3.1 bn ($2.6 mn).
ISX Company Announcements
- According to the ISX announcement, the opening price of the IQD5.0 mn class bonds (CB125) will be IQD5,329,863 on Sunday (Jan. 27, 2019). [Table: 2.3]
- ISX will suspend trading of Iraqi Engineering Works (IIEW) starting Jan. 29, 2019 due to the AGM* that will be held on Feb. 3, 2019 to discuss and approve 2017 annual financial results.
- ISX will suspend trading of Ahliya for Insurance (NAHF), Al-Ameen Insurance (NAME) and Gulf Insurance and Reinsurance (NGIR) starting Jan. 27, 2019 due to the decision issued by the Board of Insurance regarding the suspension of their licenses.
- Al-Noor for Money Transfer Co. (MTNN) held its AGM* on Jan. 2, 2019 without informing the ISX, which caused the company to be transferred to the disciplinary committee. During the AGM, the company decided to merge with Al-Harth Al-Arabiya Company for money transfer (unlisted on the ISX) and change the companies’ activity to an Islamic bank and increase the capital from IQD90 bn to IQD100 bn. Therefore, ISX decided to suspend trading of Al-Noor for Money Transfer Co. (MTNN) starting today (Jan. 24, 2019) until the company completes the merging procedures.