Iraq Stock Market Report

Rabee Securities Iraq stock exchange (ISX) market report (trading week ending: 24th Oct 2024).

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

* Including OTC market

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

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

(1) Excluding OTC market

Iraq Stock Exchange

• The first issuance of "Enjaz" bonds was 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.
• ISX approved the listing of the second issuance of the Enjaz bonds.
• A cross transaction occurred on 14.9 bn shares of Economy Bank (BEFI) on Oct. 21, valued at IQD3.9 bn and corresponding to 5.7% of BEFI's capital.
• A cross transaction occurred on 8.0 bn shares of Iraq Noor Islamic Bank (BINI) on Oct. 21, valued at IQD3.6 bn and corresponding to 3.2% of BINI's capital.
• Commercial Bank of Iraq (BCOI) has completed its procedures with the Companies Registration Department, which includes amending the name and activity of the Commercial Bank of Iraq to the Commercial Islamic Bank of Iraq.
• According to the CBI letter No. 476/4/9, published on Oct. 14, the operations of the Commercial Bank of Iraq (BCOI) changed from Commercial to Islamic.
• 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 began on Oct. 20. Trading will be launched after depositing 5% of the capital, or 21 days from the depositing start date.
• The procedures for listing Al Mal Islamic Investment Bank (BMAL) on the Non-Regular Market (NRM) with its capital of IQD250 bn have been completed based on the instructions of the Securities Commission. The process of creating share certificates for the company's shareholders began on Oct. 24. Trading will be launched after depositing 5% of the capital, or 21 days from the depositing start date.
• Al Sanam Islamic Bank (BSAN) will start trading in the OTC on Oct. 27 after completing the procedures for registering the shareholders' shares.
• Babil Animal & Vegetable Production (ABAP) invited its shareholders to receive their cash dividends for the fiscal years 2022 & 2021 at the company's HQ, starting Oct. 27. The company decided in its recent AGM (May 19) to distribute IQD1.0 cash dividend per share.
• Modern Sewing (IMOS) invited its shareholders to receive their cash dividends for the fiscal year 2023, starting Nov. 5. The company decided in its recent AGM (Sep. 24) to distribute IQD0.25 cash dividend per share, corresponding to a 2.8% dividend yield.
• Credit Bank of Iraq (BROI) has completed the legal procedures for the capital increase to IQD319.87 bn.
• AL-Wiaam for Financial Investment (VWIF) has completed the legal procedures for the capital increase through a 150% rights issue to IQD5.0 bn.

Stocks that resumed / will resume trading:

• Trans Iraq Bank (BTRI) resumed 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.
• Asiacell (TASC) resumed trading on Oct. 21 after holding its AGM on Oct. 19 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD1.0 cash dividend per share, corresponding to an 8.8% dividend yield.
• Sumer Commercial Bank (BSUC) resumed trading on Oct. 22 after postponing its AGM until further notice according to CBI's decision.
• The Light Industries (ITLI) resumed trading on Oct. 23 after holding its postponed AGM on Oct. 17 in which they discussed and approved 2017 & 2018 annual financial statements and electing four original and four alternative board members. The company postponed the decision regarding the removal of mining activity from the commercial register.
• Rehab Karbala (HKAR) will resume trading on Oct. 27 after holding its AGM on Oct. 20 in which they discussed and approved 2023 annual financial statements.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Iraqi Date Processing and Marketing (IIDP) starting Oct. 22 due to the AGM that will be held on Oct. 26 to discuss and approve 2020, 2021, and 2022 annual financial statements and electing five original and five alternative board members.
• ISX suspended 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.
• ISX will suspend trading of Trust International Islamic Bank (BTRU) starting Oct. 31 due to the AGM that will be held on Nov. 5 to discuss and approve 2023 annual financial statements and elect seven original and seven alternative board members.

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