Iraq Stock Market Report

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th Sept 2020).

Please click here to view a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD658 (-2.2%) / $689 (-2.2%) (weekly change) (-0.1% and -1.7% YTD change, respectively). The number of week traded shares was 25.0 bn and the weekly trading volume was IQD24.1 bn ($19.4 mn).

ISX Company Announcements

  • ISX will suspend trading of Al-Ahlyia for Agricultural Production (AAHP) starting Oct. 14, 2020 due to the AGM that will be held on Oct. 19, 2020 to discuss and approve the results of the ending year Mar. 31, 2020, distributing cash dividends, the possibility to purchase an agricultural land, and electing five original and five alternative board members.
  • ISX will suspend trading of Al-Khazer for Construction Materials (IKHC) starting on Oct. 6, 2020 due to the AGM that will be held on Oct. 10, 2020 to discuss and approve 2019 annual financial statements and distributing cash dividend.
  • ISX will suspend trading of Gulf Insurance and Reinsurance (NGIR) starting Oct. 1, 2020 due to the AGM that will be held on Oct. 6, 2020 to discuss and approve 2019 annual financial statements, distributing cash dividend and increasing its capital from IQD2.0 bn to IQD7.0 bn through 250% rights issue.
  • ISX will suspend trading of Al Taif Islamic Bank for Investment & Finance (BTIB) starting Sep. 27, 2020 due to the AGM that will be held on Sep. 30, 2020 to discuss and approve 2019 annual financial statements, distributing cash dividend and increasing its capital from IQD100.207 bn to IQD150 bn through 49.7% rights issue.
  • The AGM of Modern Sewing (IMOS), which was planning to be held on Sep. 22, 2020, has been postponed due to lack of quorum.
  • ISX suspended trading of National Company for Tourism Investment (HNTI) starting Sep. 24, 2020 due to the GA that will be held on Sep. 29, 2020 to discuss appointing an inspection committee based on articles 140 - 134 of the Companies Law.
  • ISX suspended trading of Al Mustashar Islamic Bank for Invest. & Finance (BMUI) starting Sep. 23, 2020 due to the AGM that will be held on Sep. 28, 2020 to discuss and approve 2019 annual financial statements.
  • In its AGM held on Sep. 21, 2020, Ashur International Bank for Investment (BASH) decided to distribute IQD0.02 dividend per share (6.3% dividend yield); however, the CBI objected that decision in the meeting because the bank hasn't recorded provisions by applying IFRS 9, yet. The company said even if the dividend distribution decision will take place in AGM minutes, they will remove it from AGM decisions if CBI objects the decision while auditing the decisions.
  • Cross transactions: 18.9 bn shares of Rajih Islamic Bank for Investment & Finance (BRAJ) on Sep. 21, 22 and 23, 2020, which represent 7.6% of BRAJ's capital.
No comments yet.

Leave a Reply