Iraq Stock Market Report

Rabee Securities Iraq stock exchange (ISX) market report (trading week ending: 28th November 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 National Bank of Iraq (BNOI) announced on Saturday that it has received the Excellence Award in Financial and Technical Innovation and Digital Leadership in Iraq for the year 2024, presented by the World Union of Arab Bankers. (Shafaq News)
• A cross transaction occurred on 750.0 mn shares of Bank of Baghdad (BBOB) on Nov. 24, valued at IQD3.2 bn and corresponding to 0.2% of BBOB's capital.
• A cross transaction occurred on 10.6 bn shares of Iraqi Middle East Investment Bank (BIME) on Nov. 24, valued at IQD845.6 mn and corresponding to 4.2% of BIME's capital.
• Two cross transactions occurred on 12.0 bn shares of Iraq Noor Islamic Bank (BINI) on Nov. 25 and Nov. 27, valued at IQD7.1 bn and corresponding to 4.8% of BINI's capital.
• Fitch Ratings has affirmed Cihan Bank for Islamic Investment and Finance P.S.C's (BCIH) Long-Term Issuer Default Rating (IDR) at 'CCC+'. Fitch has also affirmed Cihan's Viability Rating (VR) at 'ccc+'. (FitchRatings)
• Fitch Ratings has downgraded Gulf Commercial Bank's (BGUC) Long-Term Issuer Default Rating (IDR) to 'CCC' from 'CCC+' and its Viability Rating (VR) to 'ccc' from 'ccc+'. (FitchRatings)
• Fitch Ratings has downgraded Ameen Al-Iraq Bank for Islamic Investment and Finance's (BAME) Long-Term Issuer Default Rating (IDR) to 'CCC' from 'CCC+' and its Viability Rating (VR) to 'ccc' from 'ccc+'. (FitchRatings)
• ISX suspended trading of the second issuance of Emaar bonds starting on Nov. 24, 2024, due to the maturity of their semi-annual interest.
• Iraqi Agricultural Products Marketing Meat (AIPM) has completed its procedures with the Companies Registration Department, which includes amending the name of the Iraqi Agricultural Products Marketing Meat to the Iraqi Agricultural Products Marketing Meat, Field Crops, and Real Estate Investments.
• Ahliya For Insurance (NAHF) decided to extend the subscription on 8.0 bn shares for another 60 days starting Dec. 1 due to the incomplete subscription of the full amount during the first 60 days.
• Tourist Village of Mosul Dam (HTVM) has announced the opening of their second office for the company which is located in Mosul / Al-Arabi neighborhood / Al-Mustawsaf Street.

Stocks that resumed / will resume trading:

• Baghdad Hotel (HBAG) resumed trading on Nov. 24 after holding its AGM on Nov. 18 in which they discussed and approved 2023 annual financial statements and decided to distribute IQD0.5 cash dividend per share, corresponding to a 4.0% dividend yield.
• Original shares of Al-Mosul for Funfairs (SMOF) resumed trading on Nov. 24 after holding its AGM on Nov. 16 in which they discussed and approved 2023 annual financial statements, increasing the paid-in capital from IQD1.650 bn to IQD1.815 bn through a 10.0% bonus issue, and electing four original and four alternative board members.
• AL-Nukhba for General Construction (SNUC) resumed trading on Nov. 27 after holding its AGM on Nov. 24 in which they discussed and approved 2023 annual financial statements and electing five original and three alternative board members.
• Asia Al Iraq Islamic Bank (BAIB) resumed trading on Nov. 28 after holding its AGM on Nov. 26 in which they discussed and approved 2023 annual financial statements.
• Trust International Islamic Bank (BTRU) will resume trading on Dec. 1 after holding its AGM on Nov. 5 in which they discussed and approved 2023 annual financial statements and electing seven original and six alternative board members.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Electronic Industries (IELI) starting Nov. 25 due to the AGM that will be held on Nov. 28 to discuss and approve 2017, 2018, and 2019 annual financial statements and electing four original and four alternative board members.
• ISX suspended trading of Erbil Bank for Investment & Finance (BERI) starting Nov. 26 due to the AGM that will be held on Nov. 29 to discuss and approve 2023 annual financial statements and electing seven original and seven alternative board members.
• ISX suspended trading of Al-Mansour Pharmaceuticals Industries (IMAP) starting Nov. 27 due to the AGM that will be held on Dec. 2 to discuss and approve 2023 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD16.0 bn to IQD20.0 bn through 25.0% rights issue according to the Companies Law No. 21 of 1997/Article 55/Fourth. (The share price is set at IQD2.50 for the capital increase).
• ISX will suspend trading of Investment Bank of Iraq (BIBI) starting Dec. 3 due to the AGM that will be held on Dec. 7 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Iraq Baghdad for General Transport (SBPT) starting Dec. 16 due to the AGM that will be held on Dec. 19 to discuss and approve 2023 annual financial statements, dividend distribution, and increasing the paid-in capital from IQD1.3 bn to IQD2.0 bn through a 53.8% bonus issue.

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