Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 17th 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

• The Ministry of Finance, in cooperation with the Central Bank of Iraq, announced, on Sunday, the offering of a new issuance of government "Injaz/Enjaz" bonds (third issue) for public subscription, with a value of IQD1.3 trln. The Finance Ministry stated in a statement: "The categories offered are: a bond in the category of 500,000 dinars, with an annual interest of 6.5%, paid every six months for two years, and a bond in the category of 1,000,000 dinars, with an annual interest of 8.5%, paid every six months for four years," indicating: "The sale of bonds at nominal value begins for the period from October 14 to November 13, 2024." (MoF)
• Two cross transactions occurred on 13.3 bn shares of Iraq Noor Islamic Bank (BINI) on Oct. 14 and Oct. 15, valued at IQD6.0 bn and corresponding to 5.3% of BINI's capital.
• According to the ISC decision, the ISX transferred Iraqi Carton Manufacturies (IICM) from the Undisclosed Companies Market (UCM) to the Regular Market (RM) starting Oct. 17, 2024. (Note: ISX adjusted the starting date from Oct. 16 to Oct. 17)
• The procedures for listing Ishtar Gate For e-Payment Systems and Services (FISH) on the OTC platform with its capital of IQD10.0 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. 20. Trading will be launched after depositing 5% of the capital, or after 21 days from the depositing start date.
• The AGM of Iraqi Agricultural Products Marketing Meat (AIPM) has been postponed to Oct. 21 due to a lack of quorum.
• The AGM of Sumer Commercial Bank (BSUC) has been postponed until further notice according to CBI's decision. The bank will resume trading after holding the postponed AGM and sharing its minutes with ISX.

Stocks that resumed / will resume trading:

• Al-Ameen Estate Investment (SAEI) resumed trading on Oct. 14 after holding its AGM on Oct. 8 in which they discussed and approved 2023 annual financial statements, the activation of investments for the company and Al Hamra Real Estate Investment Company and electing five original and one alternative board members.
• Gulf Insurance and Reinsurance (NGIR) resumed trading on Oct. 15 after holding its AGM on Oct. 1 in which they discussed and approved 2023 annual financial statements.
• Union Bank (BUOI) resumed trading on Oct. 16 after postponing its AGM until further notice due to a lack of quorum.
• Trans Iraq Bank (BTRI) will resume trading on Oct. 20 after holding its AGM on Oct. 16 in which they discussed and approved electing one original and three reserve board members.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Trans Iraq Bank (BTRI) starting Oct. 13 due to the AGM that will be held on Oct. 16 to discuss and approve electing one original and three reserve board members.
• ISX suspended trading of Asiacell (TASC) starting Oct. 15 due to the AGM that will be held on Oct. 19 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX suspended trading of Arabia Islamic Bank (BAAI) starting Oct. 15 due to the AGM that will be held on Oct. 19 to discuss and approve 2023 annual financial statements.
• ISX suspended trading of Rehab Karbala (HKAR) starting Oct. 15 due to the AGM that will be held on Oct. 20 to discuss and approve 2023 annual financial statements.
• ISX will suspend trading of Ready Made Clothes (IRMC) starting Oct. 28 due to the AGM that will be held on Oct. 31 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of National Islamic Bank (BNAI) starting Nov. 5 due to the AGM that will be held on Nov. 9 to discuss and approve electing seven original and seven alternative board members.
• ISX will suspend trading of Cihan Bank (BCIH) starting Nov. 12 due to the AGM that will be held on Nov. 15 to discuss and approve 2023 annual financial statements and increasing the paid-in capital from IQD355.0 bn to IQD400.0 bn through a 6.8% rights issue and a 5.9% bonus issue.
• ISX will suspend trading of Modern Chemical Industries (IMCI) starting Dec. 9 due to the AGM that will be held on Dec. 15 to discuss and approve 2023 annual financial statements.

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