Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 11th August 2022).

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

The RSISX index ended the week at IQD877 (-1.4%) / $764 (-1.4%) (weekly change) (-4.5% and -5.1% YTD change, respectively). The number of week traded shares was 1.1 bn and the weekly trading volume was IQD2.0 bn ($1.4 mn).

ISX Company Announcements

  • Fitch Ratings has assigned the Sumer Commercial Bank (BSUC) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. (Iraq Business News)
  • ISX suspended trading of the following companies starting Aug. 10 in accordance with an ISC decision due to not disclosing their 2021 annual financial statements: SKTA, VWIF, BUND, BLAD, BZII, BKUI, AIPM, INCP, IMIB, HISH, HSAD, HNTI. The following companies are already suspended from trading: BASH, BRAJ and BDSI.
  • The ISC sent a letter to the Board of Governors of ISX indicating that the following companies trading in the UCM haven't disclosed their 2021 annual financial statements and the instructions of the ISC apply to them in terms of collecting fines while they will continue trading in the UCM: IELI, ITLI, SBAG, IMCM, SILT, SIGT, HPAL, AMAP, VKHF, VBAT, BNOR and BBAY.
  • New shares of Al-Ameen Insurance (NAME) from the capital increase to IQD5.0 bn through 6.6% bonus issue resumed trading on Aug. 10.
  • ISX suspended trading of Iraqi Agricultural Products (AIRP) starting Aug. 10 due to the GA that will be held on Aug. 14 to elect five new original board members and five alternative members.
  • ISX suspended trading of Al-Ahlyia for Agricultural Production (AAHP) starting Aug. 10 due to the AGM that will be held on Aug. 15 to discuss and approve the ending year Mar. 31, 2022 financial statements.
  • The ISC approved the extension period for the following companies for one year to provide their 2021 annual financial statements: Mansour Hotel (HMAN), Al -Hilal Industries (IHLI) and Ready-Made Clothes (IRMC).
  • Iraqi for Tufted Carpets (IITC) will resume trading on Aug. 14 after holding its AGM (Aug. 7) in which they discussed and approved 2021 annual financial statements and decided to distribute IQD0.7 cash dividend per share (4.2% dividend yield). The opening price will be IQD16.1 per share.
  • Al -Hilal Industries (IHLI) and Gulf Insurance and Reinsurance (NGIR) will resume trading on Aug. 14 due to disclosing their 3M22 financial statements.
  • ISX will suspend trading of Union Bank of Iraq (BUOI) starting Aug. 16 due to the GA that will be held on Aug. 21 to discuss and approve amending article five of the company's contract and electing two original and five alternative board members.
  • ISX will suspend trading of Erbil Bank for Investment and Finance (BERI) starting Aug. 23 due to the AGM that will be held on Aug. 27 to discuss and approve 2021 annual financial statements.
  • ISX will suspend trading of Al-Mosul for Funfairs (SMOF) starting Aug. 30 due to the AGM that will be held on Sep. 4 to discuss and approve 2021 annual financial statements and discussing dividend distribution.

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