Iraq Stock Market Report

Rabee Securities Iraq stock exchange (ISX) market report (trading week ending: 3rd Oct 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

• ISX announced that on Sep. 29, 2024, the deposit operations for the first issuance of "Injaz/Enjaz bonds" began in the deposit center. The bonds will be launched for trading starting Oct. 20, 2024, on the bond platform. The price change will be 5% according to the table received from the CBI. The bonds will trade from 10:00 am till 12:00 pm.
• A cross transaction occurred on 1.8 bn shares of Iraqi Date Processing and Marketing (IIDP) on Oct. 1, valued at IQD5.3 bn and corresponding to 10.4% of IIDP's capital.
• Baghdad Soft Drinks (IBSD) invited its shareholders to receive their cash dividends for the fiscal year 2023, starting Oct. 1. The company decided in its recent AGM (Sep. 12) to distribute IQD0.29 cash dividend per share, corresponding to a 7.0% dividend yield.
• Babylon Hotel (HBAY) invited its shareholders who did not receive their cash dividends for the fiscal years 1997 until 2022 to go to the company's hotel in order to receive them.
• Subscription to 15.6% rights issue of Economy Bank (BEFI) to reach IQD300.0 bn capital ended on Sep. 18.
• Subscription to 11.63% rights issue of National Islamic Bank (BNAI) to reach IQD351 bn capital ended on Sep. 25.
• The procedures for listing Al Sanam Islamic Bank (BSAN) on the OTC platform with its capital of IQD300 bn have been completed based on the instructions of the Securities Commission. The process of creating share certificates for the company's shareholders will begin on Oct. 6. Trading will be launched after depositing 5% of the capital, or after 21 days from the depositing start date.
• The AGM of Al-Ameen Estate Investment (SAEI) has been postponed to Oct. 8 due to a lack of quorum.
• The Fourth World Investor Day Conference, organized by the Iraqi Securities Commission (ISC), was launched on Tuesday in Baghdad, in the presence of an elite group of ministers, heads of government bodies, and diplomatic missions, in addition to Iraqi businessmen. The conference seeks to discuss available investment opportunities and exchange visions among participants while emphasizing the role of the securities sector in achieving sustainable economic development. (ISC)
• On Tuesday, ISC announced the launch of its new website to promote investment in Iraq, and while it indicated concluding an agreement with Egypt to modernize the electronic trading system, it confirmed the development of a strategy to transform Iraq into a regional center for investment. (INA)

Stocks that resumed / will resume trading:

• Modern Sewing (IMOS) resumed trading on Sep. 29 after holding its AGM on Sep. 24 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD0.25 cash dividend per share, corresponding to a 2.8% dividend yield.
• Iraq Noor Islamic Bank (BINI) will resume trading on Oct. 6 after holding its AGM on Sep. 29 in which they discussed and approved 2023 annual financial statements and electing 7 original and 7 alternative board members.
• New shares of Cihan Bank for Islamic & Finance (BCIH) from the capital increase through a 16.4% rights issue to IQD355.0 bn will resume trading on Oct. 6.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Al Mustashar Islamic Bank (BMUI) starting Oct. 1 due to the AGM that will be held on Oct. 4 to discuss and approve 2023 annual financial statements, dividend distribution, and electing seven original and seven alternative board members.
• ISX suspended trading of Union Bank (BUOI) starting Oct. 1 due to the AGM that will be held on Oct. 5 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Mamoura Real-estate Investment (SMRI) starting Oct. 22 due to the AGM that will be held on Oct. 27 to discuss and approve electing seven original and seven alternative board members.

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