Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 23rd January 2020).
The RSISX index ended the week at IQD625 (-4.4%) / $663 (-4.4%) (weekly change) (-5.2% and -5.4% YTD change, respectively). The number of week traded shares was 7.7 bn and the weekly trading volume was IQD30.2 bn ($24.7 mn).
ISX Company Announcements
- ISX will suspend trading of United Bank (BUND) starting Sunday Jan. 26, 2020 if the company fails to explain why the prices touched the lower limit on Jan. 22, 2020 and Jan. 23, 2020.
- Al-Mosul for Funfairs (SMOF) will hold a GA on Feb. 12, 2020 to discuss the utilization of the external expansion land with an area of 36 acres in a long-term rental method for a period of 22 years. The company will not be suspended from trading.
- The depositing procedures of Al Mustashar Islamic Bank for Investment & Finance (BMUI) started on Jan. 22, 2020. The company will start trading on Feb. 12, 2020.
- The depositing procedures of Ibdaa Al-Sharq Al-Awsat General Contracting & Investment (SIBD) started on Jan. 19, 2020. The company will start trading on Feb. 9, 2020.
- ISX will suspend trading of International Islamic Bank (BINT) starting Jan. 28, 2020 due to the GA that will be held on Feb. 2, 2020 to discuss merging with Ur Islamic Bank. The bank will keep its name. BINT will also discuss to increase the capital from IQD100 bn to IQD250 bn through selling its shares to the Turkish Company "Bayt Al-Tamweel - House of Fund International Company" without having to put the shares for public subscription according to article 56/ forth.
- Al Mustashar Islamic Bank for Investment & Finance (BMUI) completed the procedures of its capital increase from IQD100 bn to IQD150 bn, and will start trading after depositing and activating 5% of the listed shares or after 21 days of depositing the company's shares.
- ISX suspended trading of Iraqi Middle East Investment Bank (BIME) starting Jan. 21, 2020 due to the AGM that will be held on Jan. 25, 2020 to discuss and approve 2017 and 2018 annual financial statements.
- Al-Ameen Estate Investment (SAEI) will hold a GA on Feb. 3, 2020 to discuss the process of selling the company's properties located in Baghdad. The company will not be suspended from trading.
- Region Trade Bank for Investment and Finance (BRTB) resumed trading on Jan. 19, 2020 due to fulfilling ISX request to provide its quarterly financial statements.
- Al Taif Islamic Bank for Investment & Finance (BTIB) invited the community / people for the public subscription.
- Cross transactions: 2.4 bn shares of Asiacell (TASC) on Jan. 21, 2020, which represents 0.8% of TASC's capital.