Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th Aug 2020).
The RSISX index ended the week at IQD639 (-2.1%) / $669 (-1.7%) (weekly change) (-3.0% and -4.6% YTD change, respectively). The number of week traded shares was 46.3 bn and the weekly trading volume was IQD24.0 bn ($19.3 mn).
ISX Company Announcements
- The ISX will organize the ninth Zoom meeting on Saturday with Commercial Bank of Iraq (BCOI) for the company to disclose financial results for the investors and participants. BCOI's meeting will be held on Saturday (Aug. 22, 2020) at 4:00 pm (Baghdad time), and the speaker will be CFO, Mustafa Hawas (For BCOI's Zoom Meeting Link, please CLICK HERE, Zoom Meeting ID: 868 9677 2501, Password: 534369). The participation will be free and the recording of the Zoom meeting will be shared on the ISX website.
- The Central Bank of Iraq calls all citizens to deal with banks and licensed brokerage companies for large cash exchanges instead of keeping at homes. The CBI seeks, through this, to preserve the money supply of citizens, avoid cases of theft and fraud, and promotion of counterfeit currencies. The bank stresses the need to reduce trade exchange in paper currencies, in which medical studies have proven to be an effective vector for viruses and bacteria, especially as the country is going through a crisis of the spread of Coronavirus. The Central Bank adopts mechanisms of spreading financial inclusion in Iraq, which enhances the banking culture and the shift to monetary exchange through banking in all its advanced civilized forms. (CBI)
- ISX will suspend trading of Kharkh Tour Amusement City (SKTA) starting Sep. 2, 2020 due to the AGM that will be held on Sep. 7, 2020 to discuss and approve 2018 annual financial statements.
- Original shares of Ahliya for Insurance (NAHF) resumed trading on Aug. 19, 2020 after being suspended for its AGM in which they discussed and approved 2018 annual financial statements, decided to increase the company's capital from IQD2.5 bn to IQD7.0 bn through 180% rights issue and elect 5 original and 5 alternative board members.
- ISX suspended trading of National Islamic Bank (BNAI) starting Aug. 16, 2020 due to the AGM that will be held on Aug. 19, 2020 to discuss and approve 2018 annual financial statements.
- Kurdistan International Islamic Bank (BKUI) announced that the percentage share of Ms. Khan Adil Dsko Al-Barzani decreased from 9.9% to 8.5%.