Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th Aug 2020).
The RSISX index ended the week at IQD642 (+0.4%) / $672 (+0.4%) (weekly change) (-2.6% and -4.2% YTD change, respectively). The number of week traded shares was 38.7 bn and the weekly trading volume was IQD31.8 bn ($25.6 mn).
Note: ISX will be closed on Sunday (Aug. 30, 2020) due to religious holiday, 10th Day of Muharam "Ashura". The next trading session will be held on Monday (Aug. 31, 2020).
ISX Company Announcements
- As a continuation of the efforts made to achieve sustainability in the application of quality management standards, the Central Bank of Iraq completed the second annual review procedures to renew the quality management system in accordance with the international standard ISO 9001: 2015. It is noteworthy that the company specialized in this field granted the CBI in 2018 a certificate in effect for three years after internal audit in the field of cash management and its full implementation of the requirements of the international system. (CBI)
- ISX will suspend trading of Modern Sewing (IMOS) starting Sep. 17, 2020 due to the AGM that will be held on Sep. 22, 2020 to discuss and approve 2019 annual financial statement.
- ISX will suspend trading of Zain Al-Iraq Islamic Bank for Investment (BZII) starting Sep. 10, 2020 due to the GA that will be held on Sep. 16, 2020 to elect 7 original and 7 alternative board members.
- ISX will suspend trading of Ashur International Bank for Investment (BASH) and Modern Sewing (IMOS) starting Aug. 31, 2020 if the companies fail to explain why the prices touched the higher limit on Aug. 26, 2020 and Aug. 27, 2020.
- National Islamic Bank (BNAI) resumed trading on Aug. 25, 2020 after being suspended for its AGM in which they discussed and approved 2018 annual financial statements.
- Iraq Noor Islamic Bank for Investment (BINI) resumed trading on Aug. 24, 2020 after being suspended for its AGM in which they discussed and approved 2019 annual financial statements and distributing 1.04% cash dividend (IQD0.0104 dividend per share, 1.04% dividend yield).
- Trans Iraq Bank for Investment (BTRI) disclosed on Aug. 23, 2020 that the ownership of Moayad Hassan Ali Aleidy has declined from 9.9% (26.1 bn shares) to 6.0% (15.9 bn shares) due to cross transaction orders.
- Cross transactions: 22.4 bn shares of Trans Iraq Bank for Investment (BTRI) on Aug. 23, 24, 25 and 26, 2020, which represent 8.5% of BTRI's capital. 6.5 bn shares of Iraq Noor Islamic Bank for Investment (BINI) on Aug. 27, 2020, which represents 2.6% of BINI's capital.