Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st April 2021).
Note: ISC announced on Mar. 25 that trading hours in ISX will be increased on Mondays and Wednesdays, from 9:30 a.m. to 3:00 p.m. starting from Apr. 5, 2021 to attract more investors and encourage increasing the trading activity.
The RSISX index ended the week at IQD902 (-1.3%) / $802 (-1.3%) (weekly change) (+24.3% and +20.9% YTD change, respectively). The number of week traded shares was 7.0 bn and the weekly trading volume was IQD4.9 bn ($3.3 mn).
ISX Company Announcements
- ISX will suspend trading of Trans Iraq Bank for Investment (BTRI) starting from Apr. 7, 2021 due to the AGM that will be held on Apr. 12, 2021 to discuss and approve 2020 annual financial statements and distributing cash dividend.
- Baghdad Soft Drinks (IBSD) will resume trading on Apr. 5, 2021 after being suspended for its AGM (Mar. 4) in which they discussed and approved 2020 annual financial statements and decided to distribute 20% cash dividend (IQD0.20 dividend per share, 4.3% dividend yield).
- Baghdad Hotel (HBAG) resumed trading on Apr. 1, 2021 after being suspended for its GA (Mar. 29) in which they discussed the issue of exempting the investing company for the Baghdad Hotel, Jamal Al-Wedyan Tourism Investments Company, from the rental allowance for the period from Feb. 20, 2020 until Aug. 9, 2020 as a result of the outbreak due to Coronavirus.
- Modern Sewing (IMOS) invited its shareholders for the public subscription on 800 mn shares starting Mar. 22, 2021 to increase its capital from IQD1.0 bn to IQD2.0 bn through 80% rights and 20% bonus issue. The subscription will be for a period of 30 days, while the first 15 days will be for shareholders.
- Cross transactions: 1.6 bn shares of Commercial Bank of Iraq (BCOI) on Mar. 30, 2021 which represents 0.6% of BCOI's capital.