Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 29th October 2021).
The RSISX index ended the week at IQD944 (+2.0%) / $828 (+2.0%) (weekly change) (+30.2% and +24.9% YTD change, respectively). The number of week traded shares was 2.5 bn and the weekly trading volume was IQD2.1 bn ($1.5 mn).
ISX Company Announcements
- The Central Bank of Iraq (CBI) announced the issuance of the first issue of "Binaa" bonds in categories IQD500 K and IQD1.0 mn. The media office of the CBI said in a statement that "in continuation of the role of the CBI in developing the local financial market and mobilizing savings, the CBI offered the first issuance of "Binaa" bonds of two categories IQD500 K with annual interest of 6% for two years, and IQD1.0 mn with annual interest of 7% for four years." The statement added, "the purchase of these bonds will be through licensed banks, which receive purchase requests from those who wish to do so and hand them a receipt for the amounts of purchase of these bonds, as the CBI issues and delivers them to the banks within a short period." According to the letter, banks are allowed to invest in purchasing these bonds with a ceiling not exceeding IQD100 bn. The bonds can be traded on ISX after the ISC makes a decision in this regard.
- Saudi Industrial Exports Company (Sadirat) has signed a non-binding MoU with International Development Bank for Investment and Finance (BIDB) in Iraq to support exports from Saudi to Iraq. (Zawya)
- ISX will continue suspending trading of the following companies due to not disclosing their 6M21 financial statements: SIGT, VKHF, BDSI, VBAT, IELI, ITLI, IMPI, IMCM, HASH, SBAG, SILT, AMAP and AISP.
- The listing procedures of Al-Mashreq Al-Arabi Islamic Bank for investment (BAMS), with a capital of IQD200 bn, have been completed. Depositing of shares started on Oct. 21, 2021.
- World Islamic Bank (BWOR) resumed trading on Oct. 24 after being suspended from trading for its AGM (Oct. 7) in which they discussed and approved 2020 annual financial statements.
- Al-Ansari Islamic Bank for Investment & Finance (BANS) started trading in the non-regular market on Oct. 26.
- Mosul Bank (BMFI) will resume trading on Oct. 28 after being suspended for its AGM (Oct. 9) in which they discussed and approved 2020 financial statements.
- Al-Mansour Pharmaceutical Industries (IMAP) will resume trading on Nov. 1 after being suspended from trading for its AGM (Oct. 16) in which they discussed and approved 2020 financial results and decided to merge with Al-Serar Industrial Investment. After this decision, the capital of IMAP increased from IQD6.5 bn to IQD9.9 bn.
- ISX will suspend trading of National Islamic Bank (BNAI) starting Nov. 4 due to the AGM that will be held on Nov. 9 to discuss and approve 2020 annual financial statements.
- Union Bank of Iraq (BUOI) will hold an AGM on Nov. 6 to discuss and approve 2019 annual financial statements. The company has been suspended from trading since Aug. 6, 2017 due to not disclosing 2019 and 2020 financial statements.
- ISX will suspend trading of Al-Mosul for Funfairs (SMOF) starting Nov. 16 due to the AGM that will be held on Nov. 21 to discuss and approve increasing the capital from IQD1.0 bn to IQD1.5 bn through 50% bonus issue.