Iraq Stock Market Report

Rabee Securities Iraq stock exchange (ISX) market report (trading week ending: 19th September 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

Iraq Stock Exchange

• Al-Mansour Bank (BMNS) has completed the legal procedures for the capital increase through a 5.0% rights issue and a %12.0 bonus issue to IQD351.0 bn.
• Al-Mansour Hotels (HMAN) announced that there will be no dividend distribution for the fiscal year ending on 12/31/2022 because the Companies' Registrar did not approve the decision made by HMAN in the recent AGM. (Note: The company decided in its recent AGM (Feb. 26) to distribute IQD0.1528 cash dividend per share, corresponding to a 0.4% dividend yield.)
• Al-Warka Investment Bank (BWAI) started trading in the OTC on Sep. 16 after completing the procedures for registering the shareholders' shares and depositing a percentage exceeding 20% of the company's capital.
• The ISC has approved the request of Credit Bank of Iraq (BROI) to have a four-month extension period to add the new shares from the capital increase through a 22.8% rights issue and 7.2% bonus issue to IQD325.0 bn starting from Sep. 2, 2024.
• Iraqi Engineering Works (IIEW) fulfilled ISX's request to explain why the prices touched the higher limit on Sep. 10 and Sep. 11. The company disclosed that there were no fundamental events or new matters that affected the price of the shares.
• Al-Ameen Estate Investment (SAEI) fulfilled ISX's request to explain why the prices touched the higher limit on Sep. 11 and Sep. 12. The company disclosed that there were no fundamental events or new matters that affected the price of the shares other than announcing the date of the AGM.
• ISX requested Iraqi for Seed Production (AISP) to provide its AGM minutes for the meeting held on Sep. 14, 2024.
• Rajih Islamic Bank for Investment (BRAJ) will hold its AGM on Oct. 9 to discuss and approve 2022 & 2023 annual financial statements and dividend distribution. The company had already been suspended from trading by the ISC starting Sep. 19, 2021.

Stocks that resumed / will resume trading:

• Baghdad Soft Drinks (IBSD) resumed trading on Sep. 18 after holding its AGM on Sep. 12 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD0.29 cash dividend per share, corresponding to a 7.0% dividend yield.
• Al-Ataa Islamic Bank (BLAD) resumed trading on Sep. 16 after holding its AGM on Sep. 10 in which they discussed and approved 2023 annual financial statements.
• AHliya For Insurance (NAHF) resumed trading on Sep. 17 after holding its AGM on Aug. 29 in which they discussed and approved 2023 annual financial statements.
• New shares of National Household Furniture Industry (IHFI) from the capital increase through a 100% rights issue to IQD3.32 bn resumed trading on Sep. 17.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Modern Sewing (IMOS) starting Sep. 19 due to the AGM that will be held on Sep. 24 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Iraq Noor Islamic Bank (BINI) starting Sep. 24 due to the AGM that will be held on Sep. 29 to discuss and approve 2023 annual financial statements and electing seven original and seven alternative board members.
• ISX will suspend trading of Gulf Insurance and Reinsurance (NGIR) starting Sep. 26 due to the AGM that will be held on Oct. 1 to discuss and approve 2023 annual financial statements.
• ISX will suspend trading of Ibdaa Al-Sharq Al-Awsat General Contract (SIBD) starting Nov. 17 due to the AGM that will be held on Nov. 20 to discuss and approve 2023 annual financial statements and dividend distribution.

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