Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th June 2021).
ISX decided to increase trading hours starting June 20, 2021 for every trading session. Accordingly, pre-opening period will be from 9:30 to 10:00 am. Trading session will be from 10:00 am to 2:00 pm after which closing prices and price changes will be determined. Cross transactions and special deals will be executed from 2:00 pm to 2:30 pm. Financial and equity adjustments period will be from 2:30 pm to 3:00 pm.
The RSISX index ended the week at IQD897 (+0.1%) / $766 (+0.1%) (weekly change) (+23.7% and +15.5% YTD change, respectively). The number of week traded shares was 63.5 bn and the weekly trading volume was IQD63.8 bn ($42.2 mn).
ISX Company Announcements
- Cross transactions: 9.0 bn shares of National Bank of Iraq (BNOI) on Jun. 9, which represents 3.6% of BNOI's capital. 12.3 bn shares of International Development Bank (BIDB) on Jun. 8, which represents 4.9% of BIDB's capital. 39.6 bn shares of Kurdistan International Islamic Bank (BKUI) on Jun. 7, which represents 9.9% of BKUI's capital.
- ISX will suspend trading of Iraqi Agricultural Products (AIRP) starting Jun. 18, due to the AGM that will be held on Jun. 23 to discuss and approve 2020 annual financial statements, distributing dividend and elect board members.
- Babylon Bank (BBAY) resumed trading on Jun. 10 due to disclosing 2019 annual financial statements. BBAY closed the week at IQD0.10 price per share, up by 42.9%; however, we didn't put the company in the top 5 companies this week, because the company was suspended from trading since Nov. 3, 2020.
- The AGM of AL- Kindi of Veterinary Vaccines (IKLV) has been postponed to Jun. 15 due to lack of quorum. The meeting will discuss and approve 2019 annual financial statement and electing five original and five alternative board members from the private sector.
- The ownership of Nazneen Mohamed Abdulrahman and Mohamed Sashwar Mohamed Abdulrahman at Kurdistan International Islamic Bank (BKUI) decreased from 9.9% to zero, while Idres Nijirvan Idres and Ameer Hassan Abdullah increased their ownership at BKUI to 9.9%.
- Bain Al-Nahrain Investment (VMES) resumed trading on Jun. 7 after being suspended for its AGM (Jun. 1) in which they discussed and approved 2020 annual financial statements and elected five original and five alternative board members.
- Kharkh Tour Amuzement City (SKTA) has completed the capital increase procedures from IQD1.0 bn to IQD1.5 bn through 50% rights issue.