Iraq Stock Market Report| MENAFN.COM

Tuesday, 25 January 2022 04:20 GMT

Iraq Stock Market Report


(MENAFN- Iraq Business News)

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th January 2022).

Please click here to view a table of listed companie s and their associated ticker codes.

The RSISX index ended the week at IQD919 (-2.1%) / $806 (-2.1%) (weekly change) ( +0.1% and +0.1% YTD change, respectively). The number of week traded shares was 6.3 bn and the weekly trading volume was IQD20.6 bn ( $13.9 mn ).



ISX Company Announcements

  • Based on the request of investors and brokerage companies, the ISX announced that trading hours will be reduced starting Jan. 16, 2022 to become as follows: Pre-opening period will be from 9:30 to 10:00 am. Trading session will be from 10:00 am to 1:00 pm after which closing prices and price changes will be determined. The extended session for the cross transactions and special deals will be executed from 1:00 pm to 1:30 pm.
  • Cross transactions: 1.9 bn shares of Asiacell (TASC) on Jan. 12, which represents 0.6% of TASC's capital.
  • Fitch Ratings has assigned Gulf Commercial Bank (BGUC) a Long-Term Issuer Default Rating (IDR) of 'CCC+'. According to Fitch, the IDRs of BGUC are driven by its standalone strength, as indicated by its Viability Rating (VR). BGUC's VR reflects a weak franchise and unstable business model, operations in the highly volatile operating environment of Iraq, a high impaired loans ratio, which is partially due to its related-party lending and its structurally weak profitability. The VR also reflects the bank's adequate capital and liquidity ratios. Fitch expects Iraq's economic and political instability, high oil dependence and weak regulatory framework to continue to weigh on Iraqi banks' operating environment. (Fitch ratings)
  • New shares of Al-Mansour Pharmaceutical Industries (IMAP) from merging with Al-Serar Industrial Investment resumed trading on Jan. 9. The capital of IMAP increased from IQD6.5 bn to IQD9.9 bn with the merger.
  • ISX suspended trading of Metallic & Bicycles Industries (IMIB) starting Jan. 11 due to the AGM that will be held on Jan. 16 to discuss and approve 2017 - 2020 annual financial statements and the investment projects with Shinig Motor and partnership contract with Rawa'at Al-Mustathmer Company.
  • ISX suspended trading of Bank of Baghdad (BBOB) starting Jan. 12 due to the AGM that will be held on Jan. 17 to discuss and approve 2020 annual financial results.
  • Subscription on the capital increase of Al-Taif Islamic Bank (BTIB) that will be through 24.6% rights issue from IQD203 bn to IQD253 bn started on Jan. 12.
  • ISX suspended trading of Al-Ansari Islamic Bank for Investment and Finance (BANS) starting Jan. 12 due to its AGM that will be held on Jan. 17 to discuss and approve 2019 and 2020 annual financial results and cash dividends for the year 2020. The company will also discuss electing and increasing original and alternative board members from five members to seven members.

The post Iraq Stock Market Report first appeared on Iraq Business News .

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