Iraq Stock Market Report

Rabee Securities Iraq stock exchange (ISX) market report (week ending: 30th November 2023).

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

*Selling price of the dollar from banks and non-bank financial institutions to the final beneficiary

**Selling price of the dollar by the CBI to the banks

Iraq Stock Exchange

• On Tuesday, the Council of Ministers announced its approval of the Draft Securities Law, after it was carefully reviewed by the State Council. The law was approved in accordance with the provisions of the Constitution and was officially transferred to the House of Representatives for consideration and discussion. The importance of this law is that it enhances the economic environment, and it provides safety and transparency in the securities market. (ISC)
• Four cross transactions occurred on 46.5 bn shares of Al Mustashar Islamic Bank (BMUI) on Nov. 26, Nov. 27, Nov. 28 and Nov. 29, valued at IQD46.5 bn and corresponding to 18.6% of BMUI's capital.
• A cross transaction occurred on 3.6 bn shares of Al-Hamraa for Insurance (NHAM) on Nov. 28, valued at IQD3.4 bn and corresponding to 14.4% of NHAM's capital.
• Iraqi for Seed Production (AISP) decided in its AGM held on Nov. 26 to distribute IQD1.0 cash dividend per share, corresponding to an 8.7% dividend yield. ISX requested AISP to provide its AGM minutes for the meeting held on Nov. 26, 2023.
• Sumer Commercial Bank (BSUC) invited its shareholders to receive their cash dividends from the profits of previous years starting Nov. 26 through the company's main branch. The company decided in its recent AGM (Nov. 12) to distribute IQD0.01 cash dividend per share, corresponding to an 8.3% dividend yield.
• Region Trade Bank (BRTB) has completed the legal procedures for the capital increase through a 20% bonus issue to IQD300.0 bn.
• Al-Ameen Estate Investment (SAEI) fulfilled ISX's request to explain why the prices touched the higher limit on Nov. 20 and Nov. 22. The company disclosed that that the reason was due to the completion of the legal procedures for the capital increase and the listing of the new shares in the Iraqi Deposit Center.

Stocks that resumed / will resume trading:

• Dar Al-Salam for Insurance (NDSA) resumed trading on Nov. 27 after holding its AGM on Nov. 23 in which they discussed and approved electing seven original and seven alternative board members for the next three years.
• Original shares of International Development Bank (BIDB) resumed trading on Nov. 30 after holding its AGM on Oct. 26 in which they discussed and approved 2022 annual financial statements and increasing the paid-in capital from IQD250.0 bn to IQD300.0 bn through 20% bonus issue.
• Iraqi Middle East Investment Bank (BIME) resumed trading on Nov. 30 after holding its AGM on Nov. 21 in which they discussed and approved 2021 & 2022 annual financial statements.
• Ibdaa Al-Sharq Al-Awsat General Contract (SIBD) resumed trading on Nov. 30 after holding its AGM on Oct. 22 in which they discussed and approved 2022 annual financial statements, electing five original and four alternative board members, and continuing the procedures for merging with Etihad Al-Sharq Al-Awsat Company for Contracting, General Trade, and Real Estate Investments with SIBD, so that the name of the company after the merger will be Ibdaa Al-Sharq Al-Awsat Company for General Contracting, Real Estate Investments and General Trade with a paid-in capital of IQD6.0 bn.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Ameen Al-Iraq Islamic Bank (BAME) starting Nov. 27 due to the AGM that will be held on Nov. 30 to discuss and approve increasing the paid-in capital from IQD250.0 bn to IQD300.0 bn through 20% rights issue.
• ISX suspended trading of Asia Al Iraq Islamic Bank for Investment (BAIB) starting Nov. 28 due to the AGM that will be held on Dec. 3 to discuss and approve 2022 annual financial statements and dividend distribution.
• ISX suspended trading of Al -Khazer for Construction Materials (IKHC) starting Nov. 28 due to the AGM that will be held on Dec. 2 to discuss and approve 2022 annual financial statements and dividend distribution. The company will be referred for administrative investigation by the ISX on Dec. 5 for violating the reporting timings issued by the ISC.
• ISX suspended trading of Al Taif Islamic Bank (BTIB) starting Nov. 30 due to the AGM that will be held on Dec. 5 to discuss and approve 2022 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD250.0 bn to IQD300.0 bn through 20% rights issue.
• ISX will suspend trading of Elaf Islamic Bank (BELF) starting Dec. 11 due to the AGM that will be held on Dec. 14 to discuss and approve 2021 & 2022 annual financial statements, dividend distribution, adopting the cumulative voting method, electing seven original and seven alternative board members, and increasing the paid-in capital from IQD250.0 bn to IQD300.0 bn through 20% rights issue.
• ISX will suspend trading of Al-Qabedh Islamic Bank (BQAB) starting Dec. 11 due to the AGM that will be held on Dec. 14 to discuss and approve 2022 annual financial statements and dividend distribution.

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