Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 2nd August 2012).
Please click here to download a table of listed companies and their associated ticker codes.
ID1,360 / $1,471  (-0.3%) (weekly change). The number of week traded shares was 5.7bn and the weekly trading volume was ID8.9bn ($7.4mn).
Note: There will no trading on the ISX the following two Thursdays (August 9 and August 16). This is a government decision after having considered the extreme heat conditions in the country. The next session will be held on Sunday, August 5, 2012. Please note, the 3rd week of August will be a national holiday for Eid Al-Fitr.

Non Iraqis executed 374 transactions this week:
Buys – 106 transactions, ID296mn ($246k) trading volume
Sells – 268 transactions, ID1.0bn ($834k) trading volume
Net sales realized at ID705 million ($588k), while their share in total trading volume was 7.3%.
ISX Company Announcements

  • According to the memo (Ref. # 10/1415) published by Iraqi Securities Commission (ISC) on August 1, 2012, ISX will suspend the trading of the following companies, due to their failure to submit 2011 annual financial reports in the due time: Al -Hilal Industries (IHLI), The Light Industries (ITLI), Electronic Ind. (IELI), AL- Kindi for Production of Veterinary (IKLV), Modern Paint Ind. (IMPI), National Metallic Ind. & Bicycles (IMBI), Iraqi Land Transport (SILT), AL-Badia General Trans. (SBAG), and Baghdad Motor Cars Serv. (SBMC). Also, continue the suspension of the following companies for the same reason: Iraqi for General Transportation (SIGT), Northern Soft Drinks & Mineral Water (INSD), Kirkuk for Producing Const. Mat. (IKFP), Ishtar Hotels (HISH), and Palestine Hotel (HPAL).
  • Original shares of National Bank of Iraq (BNOI) will resume trading on August 6, after the capital increase from ID100bn to ID152bn through 4.5% bonus and 47.5% rights issues. The opening price will be ID0.81 per share with +/- 50% limit for the first session.
  • Dar Essalaam Insurance (NDSA) will hold AGM on August 13, 2012 to discuss 2011 financial results and cash dividend. ISX will suspend trading of NDSA starting on August 6.
  • Mosul Bank (BMFI) will hold AGM on August 12, 2012 to discuss capital increase from ID100bn to ID150bn through rights issue. ISX will suspend trading of BMFI starting August 5.
  •  AL-Nukhba General Contracting (SNUC) resumed trading on August 1, after the submission of 1Q2012 financial results to ISC.
  • Nationality Household Furn. Ind. (IHFI) will hold AGM on August 8, to discuss 2011 financial results and the cash dividend ratio. ISX suspended trading of IHFI starting on Aug. 1.
  • US President Barack Obama has ordered new economic sanctions against Iran’s energy sector and some financial firms. The new sanctions also targeted China’s Bank of Kunlun and Iraq’s Elaf Islamic Bank (BELF) as institutions that Washington says have helped Iran evade sanctions. (BBC)
  • Original shares of Al-Zawraa for Financial Investment (VZAF) resumed trading on July 31, after the capital increase from ID1bn to ID1.15bn through 15% bonus issue.
  • According to Mamoura Real-estate Investment (SMRI) GA (July 31) decisions, the capital will be increased from ID11.76bn to 15.00bn through 10% bonus and 18% rights issues.
  • According to Iraqi Islamic Bank (BIIB) GA (July 28) decisions, the capital will be increased from ID102.348bn to 152.348bn through 10.75% bonus and 38.11% rights issues.

For the full RS Weekly Bulletin in PDF go to:  www.rabeesecurities.com.