Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st September 2022).

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

The RSISX index ended the week at IQD934 (+5.1%) / $816 (+5.1%) (weekly change) (+1.7% and +1.4% YTD change, respectively). The number of week traded shares was 2.9 bn and the weekly trading volume was IQD4.2 bn ($2.8 mn).

ISX Company Announcements

  • The National Bank of Iraq (BNOI) has opened its first branch in Saudi Arabia. The bank, which is a subsidiary of Jordan's Capital Bank Group, said the new branch in Riyadh will encourage and facilitate trade between Iraq and Saudi Arabia. In June 2022, Capital Bank Group took in the Saudi Public Investments Fund as a strategic partner with a 23.97% stake. (Iraq Business News)
  • Stocks that resumed / will resume trading:
    • Modern Sewing (IMOS) resumed trading on Aug. 28 after holding its AGM (Aug. 24) in which they discussed and approved 2021 annual financial statements and decided to distribute IQD0.10 cash dividend per share, corresponding to a yield of 1.6%.
    • Gulf Commercial Bank (BGUC) and Al -Khazer for Construction Materials (IKHC) resumed trading on Aug. 31 after holding their AGM in which they discussed and approved 2021 annual financial statements.
    • Iraq Baghdad for General Transport's (SBPT) AGM which was planned to be held on August 30th has been postponed due to the lockdown on AGM date till further notice. The company resumed trading on Sep. 1.
    • Ashur International Bank (BASH) will resume trading on Sep. 4 due to disclosing its 3M22 financial statements.
    • Zain Al-Iraq Islamic Bank (BZII) will resume trading on Sep. 4 due to disclosing its 2021 annual financial statements.
  • Stocks that will be suspended from trading:
    • ISX will suspend trading of Modern Animal and Agricultural Production (AMAP) starting Sep. 12 due to the AGM that will be held on Sep. 15 to discuss and approve increasing the company's capital from IQD4.1 bn to IQD8.2 bn through 100% rights issue and amending the name of the company by adding an activity of "trade and industry food materials".
    • ISX will suspend trading of Mosul Bank (BMFI) starting Sep. 13 due to the AGM that will be held on Sep. 17 to discuss and approve 2021 annual financial statements, discussing cash dividends distribution and electing seven new board members.
    • ISX will suspend trading of Asia Al Iraq Islamic Bank (BAIB) starting Sep. 14 due to the AGM that will be held on Sep. 20 to discuss and approve 2021 annual financial statements, discussing cash dividends distribution and electing seven new board members.
    • ISX will suspend trading of Commercial Bank of Iraq (BCOI) starting Sep. 22 due to the AGM that will be held on Sep. 27 to discuss and approve 2021 annual financial statements and discussing cash dividends distribution.
    • ISX will suspend trading of Baghdad for Packing Materials (IBPM) starting Sep. 14 due to the AGM that will be held on Sep. 19 to discuss and approve 2021 annual financial statements.

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