(MENAFN- Iraq Business News) Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th February 2020).
Please click here to download a table of listed companie s and their associated ticker codes.
The RSISX index ended the week at IQD597 (+1.5%) / $637 (+1.9%) (weekly change) ( -9.5% and -9.1% YTD change, respectively). The number of week traded shares was 6.0 bn and the weekly trading volume was IQD4.4 bn ( $3.6 mn ).
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ISX Company Announcements
- Asiacell (TASC) reported revenue growth of 3% to QAR 4.6 bn (around $1.3 bn) in 2019, despite a flat customer base of 14.2 mn customers. The company maintained a healthy EBITDA margin of 45% in 2019 while EBITDA declined slightly from QAR 2.1 bn (around $575 mn) in 2018 to QAR 2.0 bn (around $548 mn) in 2019. Asiacell upgraded its entire network to support 3G, achieving the widest 3G coverage in the country in 2019. According to Ooredoo, Asiacell restored service to liberated regions and further expanded to the south of the country. (Ooredoo, Iraq Business News)
- Mobile telecommunications company Zain has reported that its Iraqi revenue was stable at $1.1 bn in 2019, despite a competitive landscape and economic and political issues in Zain stronghold regions. Announcing its results for 2019, the company said: "Zain Iraq''s (TZNI) EBITDA grew strongly by 10% y/y amounting to $465 mn (43% EBITDA margin) based on the operational transformation program. Accordingly, the operation reported a net profit of $63 mn for 2019, up 28% y/y. Zain Iraq''s focus on customer experience, services expansion across the country and cost transformation combined with growth of data and digital revenue were key drivers of its performance." It was mentioned that retention and customer loyalty initiatives also resulted in the company serving 15.7 mn customers. (Zain, Iraq Business News)
- ISX suspend trading of Gulf Insurance and Reinsurance (NGIR) starting Feb. 18, 2020 due to the AGM that will be held on Feb. 23, 2020 to discuss and approve 2018 annual financial statements.
- The CBI has approved for Al-Manafaa for Money Transfer (MTMA) to turn from a money transfer company into an (A) class exchange company. The company suspended from trading starting Feb. 17, 2020.
- Credit Bank of Iraq (BROI) resumed trading on Feb. 17, 2020 after electing 9 original and 9 alternative board members.
- Karbala Hotels (HKAR) resumed trading on Feb. 16, 2020 since the AGM has not been approved. The company has been requested to set a new AGM date.
- International Islamic Bank (BINT) resumed trading on Feb. 16, 2020 after its GA held on Feb. 2, 2020. The company will be monitored in regards to the merge and the capital increase procedures.
- Cross transaction: 2.8 bn shares of Trans Iraq Bank for Investment (BTRI) on Feb. 16, 2020, which represents 1.1% of BTRI''s capital.
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