Iraq Stock Market Report

By Editor on 17th February 2023 in Investment

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th February 2023).

ISX Market Summary of This Week
Trading Vol. (IQD mn)/d	36,220	# of Listed Companies on the ISX	103
Trading Vol. ($ mn)/d	23.6	# of Traded Companies	55
Traded Shares (mn)/d	28,654	# of Companies (Up)	22
Total Trades (#/d)	2,435	# of Companies (Down)	15
ISX Mcap (IQD bn)	15,423	# of Companies (Not changed)	18
ISX Mcap ($ mn)	10,048	# of Comp. Suspended from Trading (GA)	4
Market FX Rate/ CBI Auction Price (IQD/$)	1535/ 1460	# of Comp. Suspended from Trading (ISC)	3

Top 5 Gainers - Weekly
Company Names	ISX Code	Closing Price(IQD)	Price Change (w/w)	Price Chg. (YTD)
Modern Animal & Agr. Prod. (UCM)	AMAP	0.520	18.2%	-22.4%
Iraqi for General Transp. (UCM)	SIGT	1.260	14.5%	22.3%
Babylon Bank (UCM)	BBAY	0.080	14.3%	14.3%
Al-Ahlyia for Agricultural Prod.	AAHP	1.000	9.9%	14.3%
Baghdad Soft Drinks	IBSD	3.080	8.5%	-6.7%

Top 5 Losers
Company Names	ISX Code	Closing Price(IQD)	Price Change (w/w)	Price Chg. (YTD)
Al Taif Islamic Bank	BTIB	0.740	-17.8%	-26.0%
Iraqi Agricultural Products	AIRP	25.500	-15.0%	5.2%
National Islamic Bank	BNAI	0.500	-9.1%	-53.7%
Al-Ataa Islamic Bank (NR)	BLAD	0.210	-8.7%	-8.7%
Mamoura Real-estate Inv.	SMRI	13.980	-6.6%	47.9%

Top 5 Active by Trading Volume
Company Names	ISX Code	Trading Vol. (IQDmn)/d	Trading Vol. ($'000)/d	Share in Total Trad. Vol.(%)
Bank of Baghdad	BBOB	32,922.1	21,893.3	90.9%
Asiacell Communications PJSC	TASC	909.7	605.0	2.5%
Baghdad Soft Drinks	IBSD	620.4	412.6	1.7%
Al-Hilal Industries	IHLI	327.7	217.9	0.9%
Al-Mansour Pharmaceutical Ind.	IMAP	264.3	175.8	0.7%

ISX Company Announcements

ISX announced on Monday the approval of the sale of Burgan Bank's 51.79% stake in Bank of Baghdad (BBOB) to the Jordan Kuwait Bank. Then on Feb 15, a cross transaction occurred on 25.9 bn shares of BBOB, valued at IQD32.9 bn and corresponding to 10.4% of BBOB's capital.
According to Asiacell's (TASC) parent company, Ooredoo, Asiacell generated QAR 960.1 mn (around $262 mn) revenue in 4Q22, increased by 7% y/y. EBITDA increased 1% y/y to QAR 397.1 mn (around $108 mn) in 4Q22, while EBITDA margin contracted from 43.6% in 4Q21 to 41.3% in 4Q22. TASC's customer base increased 7% y/y to 17.1 mn at end-4Q22. On Feb 14, a cross transaction occurred on 79.2 mn shares of TASC, valued at IQD601.2 mn and corresponding to 0.03% of TASC's capital.

Stocks that resumed / will resume trading:

Ashur International Bank for Investment (BASH) resumed trading on Feb. 12 after holding their AGM on Jan. 9 in which they discussed and approved 2021 annual financial statements and decided to distribute IQD0.05 cash dividend per share, corresponding to an 11.9% dividend yield.
National Company for Tourism Investment (HNTI) resumed trading on Feb. 13 after holding their AGM on Feb. 7 in which they discussed and approved 2021 annual financial statements and decided to distribute IQD0.32 cash dividend per share, corresponding to a 2.7% dividend yield.
Iraqi Date Processing and Marketing (IIDP) resumed trading on Feb. 15 after not being able to hold its first and postponed AGM (Jan. 31 and Feb. 7) due to a lack of quorum.

Stocks that were suspended / will be suspended from trading:

ISX suspended trading of Al-Qabedh Islamic Bank (BQAB) on Feb. 15 due to the AGM that will be held on Feb. 20 to discuss and approve the book of CBI, number (9/3/25060 on 5/10/2022) and take the appropriate decision regarding it and view the special report for evaluating the performance and work of the Board of Directors for the year 2021.
ISX suspended trading of National Household Furniture Industry (IHFI) on Feb. 12 due to the AGM that will be held on Feb. 15 to discuss and approve 2020 and 2021 annual financial statements, increasing the paid-in capital through 100% rights issue, and changing the company's activity from National Company for Home Furniture Industries to The National Company for Industrial Investments.