Iraq Stock Market Report

(MENAFN- Iraq Business News) Iraq Stock Exchange

A cross transaction occurred on 1.8 bn shares of Trans Iraq Bank (BTRI) on Dec. 23, valued at IQD1.6 bn and corresponding to 0.7% of BTRI's capital. Mamoura Real-estate Investment (SMRI) disclosed that an investment license numbered (2024/464) has been obtained to establish the Al-Mamoura Towers residential project on the plot of land numbered (10/10/19) in the Al-Ghazaliya area, and the project will be started after the completion of the final designs and their approval. 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. Regarding the capital increase decision of Economy Bank (BEFI) to reach IQD300.0 bn capital through a 15.6% rights issue and a 4.4% bonus issue, the subscription to the rights issue ended on Sep. 18. Due to the lack of 39.1 bn shares that were not subscribed to, the paid-in capital was able to reach IQD260.9 bn. BEFI has completed the legal procedures for the capital increase to IQD260.9 bn. Investment Bank of Iraq (BIBI) fulfilled ISX's request to explain why the prices touched the lower limit on Dec. 22 and Dec. 23. The company disclosed that there were no fundamental events or new matters that affected the price of the shares. Iraqi Agricultural Products (AIRP) announced the suspension of dividend distribution from Dec. 22, 2024 to Jan. 12, 2025. Iraqi For Tufted Carpets (IITC) announced the suspension of dividend distribution from Dec. 24, 2024 to Jan. 12, 2025. Iraqi Agricultural Products Marketing Meat (AIPM) announced the suspension of dividend distribution from Dec. 19, 2024 to Jan. 20, 2025. ISX suspended trading of the third issuance of Emaar bonds starting on Dec. 24, 2024, due to distributing semi-annual coupon payments.

Stocks that resumed / will resume trading:

Investment Bank of Iraq (BIBI) resumed trading on Dec. 22 after holding its AGM on Dec. 7 in which they discussed and approved 2023 annual financial statements. Original shares of Iraq Baghdad for General Transport (SBPT) resumed trading on Dec. 24 after holding its AGM on Dec. 19 in which they discussed and approved 2023 annual financial statements, increasing the paid-in capital from IQD1.3 bn to IQD3.0 bn through a 130.769% bonus issue, and decided to distribute IQD0.6 cash dividend per share, corresponding to a %1.0 dividend yield. Baghdad for Packing Materials (IBPM) resumed trading on Dec. 24 after holding its AGM on Dec. 16 in which they discussed and approved 2023 annual financial statements.

Stocks that were suspended / will be suspended from trading:

ISX suspended trading of Gulf Commercial Bank (BGUC) starting Dec. 26 due to the AGM that will be held on Jan. 7, 2025, to discuss and approve increasing the paid-in capital from IQD300.0 bn to IQD350.0 bn through a 16.67% rights issue and electing seven original and seven alternative board members. ISX suspended 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 United Bank (BUND) starting Jan. 21, 2025, due to the AGM that will be held on Jan. 26, 2025 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. (Note: ISX adjusted the suspension from the trading date from Dec. 26, 2024, to Jan. 21, 2025, following BUND's announcement of a change in the AGM date)

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