Iraq Stock Market Report

Rabee Securities Iraq stock exchange (ISX) market report (trading week ending: 19th December 2024).

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

Note: ISX will be closed from December 31, 2024 until January 6, 2025 due to the end-of-year closing operations. The last trading session of 2024 will be on December 30, and the first trading session of 2025 will be on January 7.

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* 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

• A cross transaction occurred on 14.5 bn shares of Commercial Islamic Bank of Iraq (BCOI) on Dec. 18, valued at IQD13.2 bn and corresponding to 5.0% of BCOI's capital. A cross transaction occurred on 5.0 bn shares of Trust International Islamic Bank (BTRU) on Dec. 17, valued at IQD3.8 bn and corresponding to 2.0% of BTRU's capital.
• During an official visit to Abu Dhabi, the Chairman of the Iraqi Securities Commission (ISC), Faisal Al-Haimus, met with the CEO of the Abu Dhabi Securities Exchange Group (ADX), Abdulla Salem Al Nuaimi, where ways to enhance cooperation between the ISX and ADX were discussed. Emphasis was placed on signing a joint cooperation agreement aimed at exchanging experiences and developing work mechanisms in the financial markets. (ISC)
• On Sunday, the ISC announced the signing of a joint memorandum of understanding with the Central Bank of Iraq (CBI) to enhance cooperation. Vice President of the ISC, Nagham Hussein Ismail, said, "The signing of the agreement came to enhance cooperation between the two parties, in the field of shareholder information, and to benefit from the electronic window of the shareholder system approved by the ISX." (NINA)
• Iraqi Islamic Bank (BIIB) announced that Safwa Islamic Bank (Jordan) has gained the approval of the Jordan Securities Commission (JSC) for purchasing 10% of the capital of BIIB after completing the necessary requirements, which is in line with the requirements of the CBI of increasing the paid-up capital to IQD400 bn. Safwa Islamic Bank will deposit 10% of the new paid-in capital in BIIB's account at the CBI.
• Gulf Commercial Bank (BGUC) fulfilled ISX's request to explain why the prices touched the higher limit on Dec. 15 and Dec. 16. The bank disclosed that the fundamental events or new matters that affected the price of the shares were related to the signing of the MoU between BGUC and the Arab Jordan Investment Bank, as the agreement supports regional cooperation and increases the area of strong connections with the Iraqi financial system, which will open new channels for the bank.
• Cihan Bank (BCIH) invited its shareholders to subscribe to 24.0 bn shares starting Dec. 22 from the capital increase to IQD400.0 bn through a 6.8% rights issue. The subscription period is no less than 30 days and no more than 60 days.
• Iraq Baghdad for General Transport (SBPT) invited its shareholders who did not receive their cash dividends for the fiscal years 1998 until 2022 to go to the company's HQ in order to receive them.

Stocks that resumed / will resume trading:

• Original shares of Al -Khazer for Construction Materials (IKHC) resumed trading on Dec. 15 after holding its AGM on Dec. 6 in which they discussed and approved 2023 annual financial statements, increasing the paid-in capital from IQD1.0 bn to IQD2.0 bn through %100 rights issue, and electing five original and five alternative board members.
• Original shares of Al-Mansour Pharmaceuticals Industries (IMAP) resumed trading on Dec. 16 after holding its AGM on Dec. 2 in which they discussed and approved 2023 annual financial statements and increasing the paid-in capital from IQD16.0 bn to IQD18.56 bn through 16.0% 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).
• International Islamic Bank (BINT) resumed trading on Dec. 18 after holding its AGM on Dec. 12 in which they discussed and approved 2023 annual financial statements.
• Original shares of Kharkh Tour Amusement City (SKTA) resumed trading on Dec. 18 after holding its AGM on Dec. 8 in which they discussed and approved 2023 annual financial statements and increasing the paid-in capital from IQD1.5 bn to IQD1.98 bn through %32.0 rights issue according to the Companies Law No. 21 of 1997/Article 55/Fourth. (The share price is set at IQD3.0 for the capital increase).
• Investment Bank of Iraq (BIBI) will resume trading on Dec. 22 after holding its AGM on Dec. 7 in which they discussed and approved 2023 annual financial statements.

Stocks that were suspended / will be suspended from trading:

• ISX suspended 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.
• ISX suspended trading of Ashour Hotel (HASH) starting Dec. 17 due to the AGM that will be held on Dec. 20 to discuss and approve 2023 annual financial statements and electing five original and five alternative board members.
• ISX will suspend trading of United Bank (BUND) starting Dec. 26 due to the AGM that will be held on Dec. 31 to discuss and approve 2022 & 2023 annual financial statements, dividend distribution, increasing the paid-in capital from IQD300.0 bn to IQD400.0 bn through a 33.3% rights issue, and electing seven original and seven alternative board members.
• ISX will suspend trading of Iraqi Carton Manufacturies (IICM) starting Dec. 26, 2024, due to the AGM that will be held on Jan. 5, 2025, to discuss and approve 2017, 2018, 2019, and 2020 annual financial statements and electing four original and four alternative board members.
• ISX will suspend trading of Al Ansari Islamic Bank (BANS) starting Dec. 30, 2024, due to the AGM that will be held on Jan. 9, 2025, to discuss and approve 2023 annual financial statements. (Note: ISX adjusted the suspension from trading date from Jan. 5, 2025 to Dec. 30, 2024)
• ISX will suspend trading of Al-Khatem Telecoms (TZNI) starting Jan. 15, 2025, due to the AGM that will be held on Jan. 20, 2025, to discuss and approve 2022 & 2023 annual financial statements, dividend distribution, and electing seven original and seven alternative board members.

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