Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st April 2022).
The RSISX index ended the week at IQD1,005 (-1.9%) / $882 (-1.7%) (weekly change) (+9.5% and +9.5% YTD change, respectively). The number of week traded shares was 23.7 bn and the weekly trading volume was IQD26.3 bn ($17.7 mn).
ISX Company Announcements
- According to the ISC decision on Apr. 13, the ISX will move the following companies from the non-regular market to the regular market starting May 8, 2022: Zain Iraq (TZNI), Al-Taif Islamic Bank (BTIB), Al -Khazer for Construction Materials (IKHC) and Al-Ameen Estate Investment (SAEI).
- Cross transactions: 17.5 bn shares of Iraq Noor Islamic Bank (BINI) on Apr. 17-18-19-20-21, which represent 7.0% of BINI's capital.
- ISX suspended trading of Baghdad Soft Drinks (IBSD) starting Apr. 18 due to the AGM that was held on Apr. 21 to discuss and approve 2021 annual financial statements, dividend distribution and authorizing the company's BoDs to import and install new production lines and announce the consumer sale of old lines and machines. IBSD decided in its AGM to distribute 25% cash dividend (IQD0.25 dividend per share, 5.3% dividend yield).
- Original shares of Ishtar Hotel (HISH) resumed trading on Apr. 19 after being suspended from trading for its AGM (Mar. 30) in which they discussed and approved 2018 and 2019 annual financial statements and decided to increase the capital from IQD3.5 bn to IQD7.0 bn through 100% bonus issue.
- National Company for Tourism Investment (HNTI) resumed trading on Apr. 19 after being suspended from trading for its GA (Feb. 20).
- New shares of Iraqi for Seed Production (AISP) from the capital increase to IQD20.0 bn through 22.1% bonus issue resumed trading on Apr. 20.
- ISX will suspend trading of Al-Mansour Pharmaceutical Ind. (IMAP) starting Apr. 26 due to the AGM that will be held on May 7 to discuss and approve 2021 annual financial statements and increasing its capital from IQD9.9 bn to IQD16.0 bn through 61.38% rights issue.
- The ISC approved Al Mustashar Islamic Bank for Investment & Finance (BMUI) request to extend the capital increase period by three months starting from Apr. 16, 2022. BMUI will increase the capital to IQD250 bn through 3.5% bonus issue (IQD7 bn shares) and 21.5% rights issue (IQD43 bn shares).
- ISX will suspend trading of Gulf Insurance and Reinsurance (NGIR) starting Apr. 24 if the company fails to explain why the prices touched the lower limit on Apr. 20 and Apr. 21.