Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 7th October 2021).

Note: ISX will be closed on Oct. 10 and Oct. 11 due to the Iraqi Parliamentary Elections. The next trading session will be held on Tuesday (Oct. 12).

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

The RSISX index ended the week at IQD931 (+0.6%) / $814 (+0.05%) (weekly change) (+28.4% and +22.8% YTD change, respectively). The number of week traded shares was 2.0 bn and the weekly trading volume was IQD1.4 bn ($0.9 mn).

ISX Company Announcements

  • According to the letter sent to Board of Governors of the Iraq Stock Exchange (ISX) on October 6, 2021, by the Iraqi Securities Commission (ISC) about the foreign ownership percentage at Iraqi companies; the approval of ISC will be required in every case when the ownership of foreign shareholders exceed 49% until the issue on foreign ownership is resolved by the Legal Committee in the General Secretariat of the Council of Ministers.
  • ISX suspended trading of Investment Bank of Iraq (BIBI) starting Oct. 4 due to the AGM that will be held on Oct. 7 to discuss and approve 2020 annual financial statements.
  • According to the letter sent to Board of Governors of the Iraq Stock Exchange (ISX) on October 6, 2021, by the Iraqi Securities Commission (ISC) about the foreign ownership percentage at Iraqi companies; the approval of ISC will be required in every case when the ownership of foreign shareholders exceed 49% until the issue on foreign ownership is resolved by the Legal Committee in the General Secretariat of the Council of Ministers.
  • ISX suspended trading of World Islamic Bank (BWOR) starting Oct. 4 due to the AGM that will be held on Oct. 7 to discuss and approve 2020 annual financial statements.
  • ISX suspended trading of Gulf Insurance and Reinsurance (NGIR) starting Oct. 4 due to the AGM that will be held on Oct. 7 to discuss and approve 2020 annual financial statements.
  • ISX suspended trading of Dar Al-Salam for Insurance (NDSA) starting Oct. 4 due to the AGM that will be held on Oct. 7 to discuss and approve 2020 annual financial statements.
  • ISX suspended trading of Mosul Bank (BMFI) starting Oct. 5 due to the AGM that will be held on Oct. 9 to discuss 2020 financial results and elect four original and four alternative board members to represent the private sector.
  • Modern Chemical Industries (IMCI) resumed trading on Oct. 6 after being suspended for its AGM (Sep. 22) in which they discussed and approved 2019 annual financial statements and elected five original and five alternative board members.
  • Asiacell (TASC) resumed trading on Oct. 7 after being suspended for its AGM (Oct. 4) in which they discussed and approved 2020 annual financial statements and decided to distribute 70% cash dividends (IQD0.7 dividend per share, 7.4% dividend yield).
  • National Chemical & Plastic Industries (INCP) resumed trading on Oct. 7 after being suspended for its GA (Oct. 4) in which they elected 4 original and 4 alternative board members to represent the private sector.
  • The AGM of Al Ataa Islamic Bank (BLAD) has been postponed to Oct. 12 due to lack of quorum.
  • Al-Ansari Islamic Bank for Investment and Financing (BNAS), with a capital of IQD250 bn, will start trading in the non-regular market after depositing and activating 5% of the listed shares or after 21 days of depositing the company's shares.
  • ISX will suspend trading of Credit Bank of Iraq (BROI) starting Oct. 12 due to the AGM that will be held on Oct. 16 to discuss and approve 2019 annual financial results.
  • Mamoura Real-estate Investment (SMRI) will resume trading on Oct. 12 after being suspended for its GA (Sep. 30) in which they elected seven original and seven alternative board members.
  • ISX will suspend trading of Iraqi Date Processing and Marketing (IIDP) starting Oct. 17 due to the GA that will be held on Oct. 20 to elect five original and five alternative board members.

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