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Iraq Stock Market Report
7/13/15
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th July 2015).
Note: ISX will be closed on July 14, 2015 due to an official holiday in Baghdad. ISX will be also closed starting from July 19, 2015 to July 21, 2015 due to the national holiday of Eid Al-Fitr. The next session will be held on Wednesday, July 22, 2015.
The RSISX index ended the week at ID1,416 (-1.1%) / $1,470 (-1.1%) (weekly change) (+1.6% and -0.8% YTD change, respectively). The number of week traded shares was 5.0bn and the weekly trading volume was IQD5.8bn ($4.7mn).
ISX Company Announcements
The Light Industries (ITLI) will hold its AGM* on Aug. 6, 2015 to discuss and approve 2012 & 2013 annual financial results, increasing its capital through 50% rights issue and electing new board members. ISX will suspend trading of ITLI starting on Jul. 30, 2015.
Modern Sewing (IMOS) will hold its AGM* on Jul. 27, 2015 to discuss and approve 2014 annual financial results, increasing its capital from IQD0.9bn to IQD1.0bn through 11.1% bonus issue and distributing cash dividend. ISX will suspend trading of IMOS starting on Jul. 20, 2015.
Gulf Commercial Bank (BGUC) will resume trading on Jul. 12, 2015 after they approved 2014 annual financial results, distributing 11% cash dividend (IQD0.11 price per share) and reducing number of board members from nine to five. The opening price will be IQD0.84 per share with +/-10% limit for the first session.
Original shares of Babylon Hotel (HBAY) will resume trading on Jul. 12, 2015 after they approved 2014 annual financial results and capital increase from IQD1.35bn to IQD2.00bn through 48.1% rights issue to cover some of accumulated deficit which is amounted now at IQD1.5bn and electing new board members. The opening price will be IQD48.25 per share with +/-50% limit for the first session.
AHliya For Insurance (NAHF) will resume trading on Jul. 12, 2015 after fulfilling ISC’s disclosure requirements.
Dar Al-Salam for Insurance (NDSA) will hold its AGM* on Jul. 15, 2015 to discuss and approve 2014 annual financial results, increasing its capital from IQD3.19bn to IQD3.509bn through 10% bonus issue and distributing cash dividend. ISX suspended trading of NDSA starting on Jul. 8, 2015.
Mamoura Real Estate (SMRI) held its GA meeting on July 8, 2015. In its GA, SMRI approved 2014 annual financial results and increasing its capital through 7% rights and 9.01% bonus issues.
National Islamic Bank (BNAI) resumed trading on Jul. 7, 2015 after they approved 2014 annual financial results and distributing 10% cash dividend (corresponding to IQD0.1 cash dividend per share).
AL- Kindi of Veterinary Vaccines (IKLV) resumed trading on Jul. 7, 2015 after fulfilling ISC’s disclosure requirements.
Bank of Baghdad (BBOB) resumed trading on Jul. 6, 2015 after they approved 2014 annual financial results, distributing 8% cash dividend (IQD0.08 price per share), covering IQD906,284,000 of bad debts, allocating IQD10bn to cover the losses of their branches in the critical cities and electing new board members.
ISC has decided to suspend the following companies starting on Jul. 6, 2015 for their failure of disclosing 1Q15 financial results: Economy Bank (BEFI), AHliya For Insurance (NAHF), Ashour Hotel (HASH), Karbala Hotel (HKAR), Mansour Hotel (HMAN), Mosul Dam Tourist Village (HTVM), Baghdad Motor Cars Servicing (SBMC), Al-Mosul for Funfairs (SMOF), AL- Kindi of Veterinary Vaccines (IKLV), Nationality Househ. Furniture (IHFI), Al -Khazer for Construction Materials (IKHC), Fallujah for Construction Materials (IFCM), North Soft Drinks (INSD), Modern Construction Materials (IMCM) and Al-Khair for Financial Investments (VKHF).
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7/13/15
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th July 2015).
Note: ISX will be closed on July 14, 2015 due to an official holiday in Baghdad. ISX will be also closed starting from July 19, 2015 to July 21, 2015 due to the national holiday of Eid Al-Fitr. The next session will be held on Wednesday, July 22, 2015.
The RSISX index ended the week at ID1,416 (-1.1%) / $1,470 (-1.1%) (weekly change) (+1.6% and -0.8% YTD change, respectively). The number of week traded shares was 5.0bn and the weekly trading volume was IQD5.8bn ($4.7mn).
ISX Company Announcements
The Light Industries (ITLI) will hold its AGM* on Aug. 6, 2015 to discuss and approve 2012 & 2013 annual financial results, increasing its capital through 50% rights issue and electing new board members. ISX will suspend trading of ITLI starting on Jul. 30, 2015.
Modern Sewing (IMOS) will hold its AGM* on Jul. 27, 2015 to discuss and approve 2014 annual financial results, increasing its capital from IQD0.9bn to IQD1.0bn through 11.1% bonus issue and distributing cash dividend. ISX will suspend trading of IMOS starting on Jul. 20, 2015.
Gulf Commercial Bank (BGUC) will resume trading on Jul. 12, 2015 after they approved 2014 annual financial results, distributing 11% cash dividend (IQD0.11 price per share) and reducing number of board members from nine to five. The opening price will be IQD0.84 per share with +/-10% limit for the first session.
Original shares of Babylon Hotel (HBAY) will resume trading on Jul. 12, 2015 after they approved 2014 annual financial results and capital increase from IQD1.35bn to IQD2.00bn through 48.1% rights issue to cover some of accumulated deficit which is amounted now at IQD1.5bn and electing new board members. The opening price will be IQD48.25 per share with +/-50% limit for the first session.
AHliya For Insurance (NAHF) will resume trading on Jul. 12, 2015 after fulfilling ISC’s disclosure requirements.
Dar Al-Salam for Insurance (NDSA) will hold its AGM* on Jul. 15, 2015 to discuss and approve 2014 annual financial results, increasing its capital from IQD3.19bn to IQD3.509bn through 10% bonus issue and distributing cash dividend. ISX suspended trading of NDSA starting on Jul. 8, 2015.
Mamoura Real Estate (SMRI) held its GA meeting on July 8, 2015. In its GA, SMRI approved 2014 annual financial results and increasing its capital through 7% rights and 9.01% bonus issues.
National Islamic Bank (BNAI) resumed trading on Jul. 7, 2015 after they approved 2014 annual financial results and distributing 10% cash dividend (corresponding to IQD0.1 cash dividend per share).
AL- Kindi of Veterinary Vaccines (IKLV) resumed trading on Jul. 7, 2015 after fulfilling ISC’s disclosure requirements.
Bank of Baghdad (BBOB) resumed trading on Jul. 6, 2015 after they approved 2014 annual financial results, distributing 8% cash dividend (IQD0.08 price per share), covering IQD906,284,000 of bad debts, allocating IQD10bn to cover the losses of their branches in the critical cities and electing new board members.
ISC has decided to suspend the following companies starting on Jul. 6, 2015 for their failure of disclosing 1Q15 financial results: Economy Bank (BEFI), AHliya For Insurance (NAHF), Ashour Hotel (HASH), Karbala Hotel (HKAR), Mansour Hotel (HMAN), Mosul Dam Tourist Village (HTVM), Baghdad Motor Cars Servicing (SBMC), Al-Mosul for Funfairs (SMOF), AL- Kindi of Veterinary Vaccines (IKLV), Nationality Househ. Furniture (IHFI), Al -Khazer for Construction Materials (IKHC), Fallujah for Construction Materials (IFCM), North Soft Drinks (INSD), Modern Construction Materials (IMCM) and Al-Khair for Financial Investments (VKHF).
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