Iraq Stock Market Report

Note: ISX will be closed starting from Jun. 16, 2024 (Sunday) to Jun. 20, 2024 (Thursday) due to the religious holiday of Eid Al-Adha. The next trading session will be held on Jun. 23, 2024 (Sunday).

Rabee Securities Iraq stock exchange (ISX) market report (trading week ending: 13th June 2024).

Please click here to view a table of listed companies 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

Weekly News from Iraq

• Three cross transactions occurred on 17.0 bn shares of Al Mustashar Islamic Bank (BMUI) on Jun. 11, Jun. 12, and Jun. 13, valued at IQD17.0 bn and corresponding to 6.8% of BMUI's capital.
• Bank of Baghdad (BBOB) has been chosen as the best private commercial bank in Iraq by International Finance for the year 2024.
• The International Development Bank (BIDB) signed a partnership contract with the Kurdistan Regional Government to implement the "My Account" project. (INA)
• The Iraqi Securities Commission (ISC), represented by the Chairman of the Commission, and the International Finance Corporation (IFC), represented by the Regional Director, signed, on Wednesday, a consultative cooperation agreement to implement the environmental and social governance project for joint-stock companies listed on the ISX in accordance with international standards.
• ISX suspended the trading of the following bonds (Binaa Bond / 2nd issue / IQD1.0 mn (CB20)) starting on Jun. 11, 2024, due to the maturity of their semi-annual interest.
• National Company for Tourism Investment (HNTI) invited its shareholders to receive their cash dividends for the fiscal year 2022 at its headquarters located in Baghdad. The company decided in its recent AGM (Apr. 21) to distribute IQD0.23 cash dividend per share, corresponding to a 2.1% dividend yield.
• AL-Wiaam for Financial Investment (VWIF) invited its shareholders to subscribe to 3.0 bn shares starting Jun. 11 from the capital increase to IQD5.0 bn through a 150% rights issue. The subscription period is no less than 30 days and no more than 60 days.
• According to the ISC decision on Jun. 3, the ISX transferred National Chemical & Plastic Industries (INCP) from the undisclosed capital market (UCM) to the regular market (RM) starting Jun. 9, 2024.
• Region Trade Bank (BRTB) has completed the legal procedures for the capital increase through a 16.7% bonus issue to IQD350.0 bn.

Stocks that resumed / will resume trading:

• Original shares of Cihan Bank for Islamic & Finance (BCIH) resumed trading on Jun. 12 after holding its AGM on Jun. 7 in which they discussed and approved increasing the paid-in capital from IQD305.0 bn to IQD355.0 bn through 16.4% rights issue.
• Original shares of National Islamic Bank (BNAI) resumed trading on Jun. 13 after holding its AGM on Jun. 8 in which they discussed and approved 2023 annual financial statements, increasing the paid-in capital from IQD301.0 bn to IQD351.0 bn through 11.63% rights issue and 4.98% bonus issue. The bank postponed the elections of new board members.
• Gulf Commercial Bank (BGUC) resumed trading on Jun. 13 after holding its AGM on Jun. 7 in which they discussed and approved 2023 annual financial statements.
• New shares of Al Janoob Islamic Bank (BJAB) from the capital increase through a 104% rights issue to IQD510.0 bn will resume trading on Jun. 23.

Stocks that were suspended / will be suspended from trading:

• ISX will suspend trading of AHliya For Insurance (NAHF) starting Jun. 27 due to the AGM that will be held on Jul. 2 to discuss and approve 2022 annual financial statements, increasing the paid-in capital from IQD7.0 bn to IQD15.0 bn through 114.3% rights issue, and electing five original and five alternative board members.

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