Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th November 2014).

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

The RSISX index ended the week at ID1,383 (+2.5%)/ $1,495 (+2.2%) (weekly change) (-25.8% and -24.7% YTD change, respectively). The number of week traded shares was 13.4bn and the weekly trading volume was IQD10.9bn ($9.1mn).

ISX Company Announcements

• Iraq Registrar of Companies approved the decision of Gulf Commercial Bank (BGUC) to increase its capital from IQD250bn to IQD300bn through 2% rights and 18% bonus issues.
• Bain Al-Nahrain Financial Inv. (VMES) will hold its AGM* on Nov. 19, 2014 to discuss and approve 2013 annual financial results and elect new board members. ISX suspended trading of VMES starting on Nov. 12, 2014.
• Shares of Middle East for Prod. Fish (AMEF) resumed trading on Nov. 12, 2014, after they approved 2013 annual financial results and distributing 20% cash dividend (IQD0.20 per share).
• Al-Khair for Financial Inv. (VKHF) resumed trading on Nov. 12, 2014 after fulfilling ISC’s disclosure requirements by disclosing 2013, 3M2014 and 6M2014 financial results.
• AL- Batek Investment (VBAT) resumed trading on Nov. 12, 2014 after fulfilling ISC’s disclosure requirements by disclosing 2013 financial results.
• Referenced to ISC decision no:2768/9 on Nov. 10, 2014, ISX decided to continue the suspension of trading of Mosul Bank (BMFI) until the bank disclose the status of the objection submitted by the shareholder “Karim Yousif” to AGM* decisions and submit the approved minutes of the AGM by Iraq Registrar of Companies.
• Bank of Baghdad (BBOB) has confirmed the appointment of Mr. Faisal Al- Haimus as Managing Director of the Bank. Mr. Al -Haimus has over twenty years of banking experience and has held various executive positions in regional and international banks including Standard Chartered, HSBC and Mashreq Bank. (Iraq Directory)
• Subscription on 144bn Dijlah & Furat Bank (BDFD) shares extended another 60 days starting on Nov. 9, 2014 to increase the capital to IQD250bn through rights issue. A cross transaction occurred on IQD9.9bn BDFD shares on Nov. 10, 2014. This represents 4.0% of BDFD capital.
• A cross transaction occurred on IQD4.2K Modern Chemical Industries (IMCI) shares on Nov. 9, 2014.