Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th January 2022).
The RSISX index ended the week at IQD938 (+2.2%) / $823 (+2.2%) (weekly change) (+2.2% and +2.2% YTD change, respectively). The number of week traded shares was 2.9 bn and the weekly trading volume was IQD3.4 bn ($2.3 mn).
ISX Company Announcements
- Based on the request of investors and brokerage companies, the ISX announced that trading hours will be reduced starting Jan. 16, 2022 to become as follows: Pre-opening period will be from 9:30 to 10:00 am. Trading session will be from 10:00 am to 1:00 pm after which closing prices and price changes will be determined. The extended session for the cross transactions and special deals will be executed from 1:00 pm to 1:30 pm.
- The ISX sent a letter to all listed companies to disclose their annual financial statements within a period that doesn't exceed 150 days from the end of the company's year with the exception for mixed sector companies, which have a period of no more than one year to disclose its annual financials from the end of the company's year.
- Original shares of Al-Ameen Insurance (NAME) resumed trading on Jan. 4 after being suspended from trading for its AGM (Dec. 19) in which they discussed and approved 2020 annual financial statements and increasing the capital from IQD3.8 bn to IQD5.0 bn through 26.9% rights issue and 4.0% bonus issue.
- Original shares of Al-Taif Islamic Bank (BTIB) resumed trading on Jan. 4 after being suspended from trading for its AGM (Dec. 20, 2021) in which they discussed and approved 2020 annual financial statements and decided to increase the capital from IQD203 bn to IQD253 bn through 24.6% rights issue.
- ISX suspended trading of Erbil Bank for Investment and Finance (BERI) starting Jan. 5 due to its AGM that will be held on Jan. 8 to discuss and approve 2020 annual financial statements.
- Original shares of Fallujah for Construction Materials (IFCM) resumed trading on Jan. 5 after being suspended from trading due to its AGM (Dec. 30) in which they discussed and approved 2018 and 2019 annual financial statements and decided to increase the capital from IQD3.12 bn to IQD4.68 bn through 50% rights issue.
- New shares of Al-Mansour Pharmaceutical Industries (IMAP) from merging with Al-Serar Industrial Investment will resume trading on Jan. 9. The capital of IMAP increased from IQD6.5 bn to IQD9.9 bn with the merger.
- ISX will suspend trading of Metallic & Bicycles Industries (IMIB) starting Jan. 11 due to the AGM that will be held on Jan. 16 to discuss and approve 2017 - 2020 annual financial statements and the investment projects with Shinig Motor and partnership contract with Rawa'at Al-Mustathmer Company.
- ISX will suspend trading of Al-Ansari Islamic Bank for Investment and Finance (BANS) starting Jan. 12 due to its AGM that will be held on Jan. 17 to discuss and approve 2019 and 2020 annual financial results and cash dividends for the year 2020. The company will also discuss electing and increasing original and alternative board members from five members to seven members.
- ISX will continue suspension of trading on Iraqi for Seed Production (AISP) due to not disclosing its 2020 annual financial statements.
- Babylon Hotel (HBAY) invited its shareholders to receive their cash dividends from 1997 to 2020. The company decided in its AGM held on Nov. 7, 2021 to distribute IQD1.75 cash dividend per share, corresponding to 2.1% dividend yield.