Iraq Stock Market Report


Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th November 2018).

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

The RSISX index ended the week at IQD654 (-1.3%) / $700 (-1.3%) (weekly change) (-19.4% and -16.2% YTD change, respectively). The number of week traded shares was 32.8 bn and the weekly trading volume was IQD14.8 bn ($12.2 mn).

ISX Company Announcements

  • ISX will suspend trading of Al-Ahlyia for Agricultural Production (AAHP) starting Nov. 20, 2018 due to the AGM* which will be held on Nov. 27, 2018 to discuss and approve the financial results of the ending year Mar. 31, 2018.
  • Iraqi Carton Manufactories (IICM) will hold an AGM* on Nov. 15 to discuss and approve 2016 annual results. IICM has been suspended since Aug. 6, 2017 for not disclosing 2016 and 2017 annual financial results.
  • Iraqi Islamic Bank (BIIB) invited its shareholders to visit the company’s headquarter starting Nov. 11, 2018 to receive their cash dividend.
  • Ready Made Clothes (IRMC) resumed trading on Nov. 8, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 5% cash dividend (IQD0.05 dividend per share, 0.6% dividend yield) in its AGM which was held on Nov.5, 2018.
  • ISX suspended trading of Dar Al-Salam for Insurance (NDSA) starting Nov. 8 due to the AGM* which will be held on Nov. 13, 2018 to discuss increasing the capital from IQD5 bn to IQD7 bn through 40% rights issue.
  • Metallic & Bicycles Industries (IMIB) will hold a GA on Nov. 25, 2018 to discuss the company’s investment contracts as well as electing 4 new original and alternative board members. The company has been suspended from trading since Aug. 8, 2018 for not disclosing 2017 annual financial results.
  • Cross Transactions: 24.7 bn shares of Zain Al-Iraq Islamic Bank for Investment (BZII) on Nov. 6, 2018, which represents 9.9% of BZII capital. 3.7 bn shares of International Development Bank (BIDB) on Nov. 4, 2018, which represents 1.5% of BIDB capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st November 2018).

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

The RSISX index ended the week at IQD662 (+2.2%) / $709 (+2.2%) (weekly change) (-18.3% and -15.1% YTD change, respectively). The number of week traded shares was 4.5 bn and the weekly trading volume was IQD1.2 bn ($1.0 mn).

ISX Company Announcements

  • Dar Al-Salam for Insurance (NDSA) will hold a GA on Nov. 13, 2018 to discuss increasing the capital from IQD5 bn to IQD7 bn through rights issue. ISX will suspend trading of NDSA starting Nov. 8, 2018.
  • Ready Made Clothes (IRMC) will hold an AGM* on Nov. 5, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of IRMC starting Oct. 31, 2018.
  • National Chemical & Plastic Industries (INCP) resumed trading on Oct. 28, 2018 after disclosing 2017, 3M18 and 6M18 financial results.
  • Mosul Bank (BMFI) resumed trading on Oct. 28, 2018 after discussing and approving 2017 annual financial results and to distribute 0.4% cash dividend (IQD0.004 dividend per share, 2.7% dividend yield).
  • Asia Al Iraq Islamic Bank for Investment (BAIB) having a capital of IQD100 bn started trading on Oct. 28, 2018 after discussing and approving 2017 annual financial results.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th October 2018).

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

The RSISX index ended the week at IQD648 (+2.2%) / $694 (+2.4%) (weekly change) (-20.1% and -17.0% YTD change, respectively). The number of week traded shares was 9.1 bn and the weekly trading volume was IQD7.1 bn ($5.9 mn).

ISX Company Announcements

  • Tourist Village of Mosul Dam (HTVM) will hold an AGM* on Nov. 29, 2018 to discuss and approve 2013 and 2014 annual financial results. The company has been suspended from trading since Aug. 8, 2018 by an ISC decision.
  • Iraqi for Seed Production (AISP) will hold an AGM* on Nov. 22, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of AISP starting Nov. 19, 2018.
  • Kharkh Tour Amuzement City (SKTA) will hold an AGM* on Nov. 18, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of SKTA starting Nov. 13, 2018.
  • Al Janoob Islamic Bank for Investment and Finance (BJAB) will hold an AGM* on Nov. 14, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BJAB starting Nov. 11, 2018.
  • Elaf Islamic Bank (BELF) will hold an AGM* on Nov. 12, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BELF starting Nov. 7, 2018.
  • Investment Bank of Iraq (BIBI) will hold an AGM* on Nov. 8, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BIBI starting Nov. 5, 2018.
  • Baghdad Hotel (HBAG) will hold an AGM* on Nov. 7, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of HBAG starting Nov. 4, 2018.
  • Ready Made Clothes (IRMC) will hold an AGM* on Nov. 5, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of IRMC starting Oct. 31, 2018.
  • Mosul Bank (BMFI) will resume trading on Oct. 28, 2018 after discussing and approving 2017 annual financial results and to distribute 0.4% cash dividend (IQD0.004 dividend per share, 2.7% dividend yield). The opening price will be IQD0.15 with +/-10% change.
  • Asia Al Iraq Islamic Bank for Investment (BAIB), having a capital of IQD100 bn, will start trading on Oct. 28, 2018 after discussing and approving 2017 annual financial results. The opening price will be free for the first three sessions, and then will have +/-20% price change limit.
  • National Chemical & Plastic Industries (INCP) will resume trading on Oct. 28, 2018 due to disclosing 2017 annual financial results, 3M18 and 6M18 financial results.
  • Karbala Hotels (HKAR) started trading on Oct. 23, 2018 after completing the procedures of depositing the increased shares amounted at 2.5 bn shares after completing its capital increase procedures from IQD5.0 bn to IQD7.5 bn through 50% rights issue.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th October 2018).

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

The RSISX index ended the week at IQD634 (-3.8%) / $678 (-3.8%) (weekly change) (-21.6% and -18.9% YTD change, respectively). The number of week traded shares was 148.2 bn and the weekly trading volume was IQD55.5 bn ($45.7 mn).

ISX Company Announcements

  • Mosul Bank (BMFI) held an AGM* on Oct. 18, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BMFI starting Oct. 15, 2018.
  • Iraqi Middle East Investment Bank (BIME) resumed trading on Oct. 15, 2018 due to disclosing 2017 annual financial results.
  • ISX requested AL-Sadeer Hotel (HSAD) to provide a subscription letter on the shares issued on Oct. 15, 2018 after the company’s decision to increase capital from IQD1.239 bn to IQD1.735 bn through 40% rights issue.
  • The Companies’ Registrar announced on Oct. 9, 2018 that the transfer process of the management center of Cihan Bank for Islamic & Finance (BCIH) from Baghdad to Erbil has been completed. The Companies’ Registrar requested a copy of the new adjusted contract.
  • Cross Transactions: 145.9 bn shares of Zain Al-Iraq Islamic Bank for Investment (BZII) (on Oct. 15 and Oct. 18, 2018) which represent 58.2% of BZII capital. 300 mn shares of Iraqi Agricultural Products Marketing Meat (AIPM) (on Oct. 17, 2018) which represents 6% of AIPM capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th October 2018).

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

The RSISX index ended the week at IQD676 (-3.5%) / $722 (-3.5%) (weekly change) (-16.7% and -13.6% YTD change, respectively). The number of week traded shares was 25.7 bn and the weekly trading volume was IQD8.1 bn ($6.6 mn).

ISX Company Announcements

  • Mosul Bank (BMFI) will hold an AGM* on Oct. 18, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BMFI starting Oct. 15, 2018.
  • AL- Kindi of Veterinary Vaccines Drugs (IKLV) will resume trading on Oct. 7, 2018 due to disclosing its 2017 annual financial results.
  • The following companies will be suspended from trading by the ISC starting Oct. 7, for not disclosing annual and quarterly financial reports: BASH, BWOR, BERI, MTRA, IHLI, VKHF, ITLI, IELI, IMPI, SBAG, SIGT, HTVM, HISH, IICM, IMCM, IFCM and IKHC.
  • Gulf Commercial Bank (BGUC) resumed trading on Oct. 4, 2018 after discussing and approving 2017 annual financial results and to distribute 3% cash dividend (IQD0.03 dividend per share, 15.8% dividend yield).
  • Iraq Baghdad for General Transport (SBPT) will hold an AGM* on Oct. 7, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of SBPT starting Oct. 2, 2018.
  • Depositing the shares of Asia Al Iraq Islamic Bank for Investment and Finance (BAIB) started on Sep. 30, 2018. The bank has a capital of IQD100bn paid-in capital and has completed the listing procedures. BAIB will start trading after depositing and activating 5% of the listed shares or after 21 days of depositing the company’s shares, that is, Oct. 21, 2018.
  • Cross Transaction: 24.9 bn shares of Zain Al-Iraq Islamic Bank for Investment (BZII) on Oct. 4 2018, which represents 9.96% of BZII capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th Sept 2018).

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

The RSISX index ended the week at IQD700 (-0.8%) / $748 (-0.6%) (weekly change) (-13.7% and -10.5% YTD change, respectively). The number of week traded shares was 5.6 bn and the weekly trading volume was IQD3.3 bn ($2.7 mn).

ISX Company Announcements

  • The ISC invited the holders of the National Bonds / Second Issuers to deposit and register the bonds they hold in the IDC and to sell them during the period of the continuous session from 10 am to 12 pm until the maturity date on Apr. 2, 2019. The percentage change will be 5% within the upper and lower limits after the completion of all the procedures required in accordance with the instructions of government bonds.
  • The ISC sent a letter to Bank of Baghdad (BBOB) regarding the calculation of provisions in its 2017 annual report. ISC requested the bank to provide facts and procedures regarding calculating the provisions and whether or not they were calculated according to the accounting standards and the instructions of the CBI.
  • ISX requested Al-Janoob Islamic Bank (BJAB) to provide names of high authority members in the bank (BoDs and their representatives, the CEO, Finance Manager, as well as internal and external auditors).
  • Baghdad for Packing Materials (IBPM) will hold an AGM* on Oct. 11, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of IBPM starting Oct. 8, 2018.
  • Ishtar Hotel (HISH) will hold a GA on Oct. 3, 2018 to discuss the hotel’s investments. The company has been suspended from trading since Aug. 8, 2018 by an ISC decision for not disclosing 2017 annual financial results.
  • Gulf Insurance and Reinsurance (NGIR) will hold an AGM* on Oct. 3, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of NGIR starting Sep. 30, 2018
  • Al-Zawraa for Financial Investment (VZAF) will resume trading on Sep. 30, 2018 after discussing and approving 2017 annual financial results.
  • ISX announced that Asia Al Iraq Islamic Bank for Investment and Finance (BAIB), having IQD100 bn paid-in capital, has completed the listing procedures. BAIB will start trading after depositing and activating 5% of the listed shares or after 21 days of depositing the company’s shares.
  • Baghdad Soft Drinks (IBSD) invited its shareholders to visit the company’s headquarter starting Oct. 15, 2018 to receive their cash dividends of 2017.
  • Cross Transactions: 510 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Sep. 23 and Sep. 26, 2018, which represent 0.2% of BCIH capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th Sept 2018).

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

Note: ISX was closed today (Sep. 20, 2018) due to religious holiday, 10th Day of Muharam “Ashura”. The next trading session will be held on Sunday (Sep. 23, 2018).

The RSISX index ended the week at IQD706 (-1.8%) / $753 (-1.8%) (weekly change) (-12.9% and -9.9% YTD change, respectively). The number of week traded shares was 892.6 mn and the weekly trading volume was IQD544 mn ($446.9 k).

ISX Company Announcements

  • Gulf Insurance and Reinsurance (NGIR) will hold an AGM* on Oct. 3, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of NGIR starting Sep. 30, 2018
  • Original shares of Al-Hamraa for Insurance (NHAM) resumed trading on Sep. 19, 2018 after discussing and approving 2017 annual financial results and increasing the capital from IQD5.0 bn to IQD7.0 mn through 40% bonus issue.
  • Cihan Bank for Islamic & Finance (BCIH) resumed trading on Sep. 18, 2018 after discussing and approving 2016 and 2017 annual financial results and to distribute 11.8% cash dividend (IQD0.118 dividend per share, 4.5% dividend yield).
  • Al-Harir for Money Transfer (MTAH) resumed trading on Sep. 18, 2018 after discussing and approving 2017 annual financial results.
  • Kurdistan International Bank (BKUI) will hold an AGM* on Sep. 22, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BKUI starting Sep. 18, 2018.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th Sept 2018).

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

The RSISX index ended the week at IQD719 (+0.3%) / $767 (+0.1%) (weekly change) (-11.3% and -8.2% YTD change, respectively). The number of week traded shares was 2.5bn and the weekly trading volume was IQD1.2bn ($1.0mn).

ISX Company Announcements

  • Iraq Baghdad for General Transport (SBPT) will hold an AGM* on Oct. 7, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of SBPT starting Oct. 2, 2018.
  • Babylon Hotel (BBAY) will hold a GA on Oct. 1, 2018 to elect five new private sector representatives. The company has been suspended from trading since Aug. 8, 2018 for not disclosing the annual financial report.
  • Gulf Commercial Bank (BGUC) will hold an AGM* on Sep. 29, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BGUC starting Sep. 25, 2018.
  • Kurdistan International Bank (BKUI) will hold an AGM* on Sep. 22, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BKUI starting Sep. 18, 2018.
  • Iraqi Islamic Bank (BIIB) resumed trading on Sep. 13 after discussing and approving 2017 annual financial results and deciding to distribute 3% cash dividend (IQD 0.03 dividend per share, 7.3% dividend yield).
  • Bank of Baghdad (BBOB) will hold an AGM* on Sep. 17, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BBOB starting Sep. 12, 2018.
  • Cihan Bank for Islamic & Finance (BCIH) will hold an AGM* on Sep. 15, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BCIH starting Sep. 12, 2018.
  • Asia Al Iraq Islamic Bank for Investment (BAIB) has completed the legal procedures to change the company name from United Company for Money Transfer (MTUN) to Asia Al Iraq Islamic Bank for Investment (BAIB), the company’s activity from money transfer to Islamic banking and increase the capital from IQD45 bn to IQD100 bn.
  • Karbala Hotels (HKAR) completed the procedures to increase its capital from IQD5.0 bn to IQD7.5 bn through 50% rights issue on Sep. 3, 2018.
  • Al-Harir for Money Transfer (MTAH) will hold an AGM* on Sep. 13, 2018 to discuss and approve 2017 annual financial results and to discuss merging with Al-Ameen Al-Arabiya for Money Transfer. ISX suspended trading of MTAH starting Sep. 10, 2018.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th Sept 2018).

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

The RSISX index ended the week at IQD717 (-2.4%) / $766 (-2.4%) (weekly change) (-11.6% and -8.3% YTD change, respectively). The number of week traded shares was 4.4bn and the weekly trading volume was IQD2.4bn ($1.9mn).

ISX Company Announcements

  • Al Taif Money Transfer (MTAI) will hold an AGM* on Sep. 23, 2018 to discuss and approve 2017 annual financial results. The company has been suspended from trading since Dec. 12, 2017 related with its decision to being converted into an Islamic bank.
  • Kirkuk for Producing (IKFP) will hold an AGM* on Sep. 15, 2018 to discuss and approve 2009, 2011, 2012, 2013 and 2014 annual financial results. In the AGM, the company will elect five original and alternative BoDs and discuss re-list shares of IKFP on the ISX. (Note: IKFP has been delisted from the ISX in Dec. 2013)
  • National Company for Tourism Investment (HNTI) resumed trading on Sep. 6, 2018 after discussing and approving 2017 annual financial results and to distribute 7% cash dividend (IQD0.07 dividend per share, 0.9% dividend yield).
  • Iraqi Islamic Bank (BIIB) will hold an AGM* on Sep. 8, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BIIB starting Sep. 4, 2018.
  • Credit Bank of Iraq (BROI) resumed trading on Sep. 4, 2018 after disclosing 2017 annual financial results.
  • Region Trade Bank for Investment and Finance (BRTB) resumed trading on Sep. 3, 2018 after discussing and approving 2017 annual financial results.
  • ISX requested National Household Furniture Industry (IHFI) on Sep. 3, 2018 to disclose the subscription results.
  • According to a letter sent by ISC to Economy Bank for Investment (BEFI) on Sep. 3, 2018, ISC decided to continue the suspension of BEFI in the ISX until the submission of full and clear financial statements by BEFI which will be prepared according to the accounting standards and audited.
  • Iraqi Islamic Bank (BIIB) disclosed that one of its shareholders (Srwa Amer Khdheir Al-Kubaisy) sold all of its 12.3 bn shares on Aug. 30, 2018, corresponding to 4.93% of BIIB paid-in capital.
  • Cross Transaction: 255 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Sep. 5, 2018, which represents 0.1% of BCIH capital.

Iraq Stock Market Market

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th Aug 2018).

Note: ISX will be closed starting from Aug. 21, 2018 to Aug. 26, 2018 due to the religious holiday of Eid Al-Adha. The next session will be held on Monday, Aug. 27, 2018.

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

The RSISX index ended the week at IQD736 (+0.9%) / $783 (+0.5%) (weekly change) (-9.3% and -6.3% YTD change, respectively). The number of week traded shares was 0.6bn and the weekly trading volume was IQD1.1bn ($0.9 mn).

ISX Company Announcements

  • Al-Harir for Money Transfer (MTAH) will hold an AGM* on Sep. 13, 2018 to discuss and approve 2017 annual financial results and to discuss merging with Al-Ameen Al-Arabiya for Money Transfer. ISX will suspend trading of MTAH starting Sep. 10, 2018.
  • National Chemical & Plastic Industries (INCP) will hold a GA on Sep. 3, 2018 to elect four new private sector representatives and alternative BoD members. The company has been suspended since Jul. 4, 2018 for not disclosing 2017 annual report and 3M18 fin1ancial results.
  • Region Trade Bank (BTRB) will hold an AGM* on Aug. 29, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BTRB starting Aug. 20, 2018.