Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th July 2020).
The RSISX index ended the week at IQD576 (-1.2%) / $602 (-0.4%) (weekly change) (-12.6% and -14.1% YTD change, respectively). The number of week traded shares was 3.7 bn and the weekly trading volume was IQD2.1 bn ($1.7 mn).
ISX Company Announcements
- The CBI signed, on Tuesday, a memorandum of cooperation with the Iraqi Securities Commission (ISC). The memorandum included the possibility of exchanging the information available at the Central Bank and the Securities Commission, in addition to coordination in the field of legislation and regulatory and regulatory standards for bodies subject to the control of both parties. (CBI)
- ISX will suspend trading of Trans Iraq Bank for Investment (BTRI) starting Jul. 20, 2020 due to the AGM that will be held on Jul. 26, 2020 to discuss and approve 2019 annual financial statements.
- ISX will suspend trading of Iraqi for Tufted Carpets (IITC) starting Jul. 16, 2020 due to the AGM that will be held on Jul. 22, 2020.
- ISX will suspend trading of Baghdad Soft Drinks (IBSD) starting Jul. 14, 2020 due to the AGM that will be held on Jul. 21, 2020 to discuss and approve 2019 annual financial statements, discuss suggesting dividend distribution and to elect 9 original and 9 alternative board members.
- ISX suspended trading of Asiacell (TASC) on Jul. 6, 2020 due to the AGM that will be held on Jul. 12, 2020 to discuss and approve 2019 annual financial statements.
- ISX will continue the suspension of trading of the following companies due to not disclosing their annual and quarterly financial statements: BUOI, BNOR, IMCM, IMPI, AMAP, IICM, IHLI, ITLI, IIEW, IELI, HISH, VKHF, VBAT and SBAG.
- Due to the increased number of Covid-19 cases in Baghdad and to commit to the safety measurements, Al-Mansour Bank (BMNS) didn’t hold its intended AGM on Jul. 8, 2020 and hence, wasn’t suspended from trading on Jul. 6, 2020. The bank proposed to the companies’ registrar to hold the AGM on Jul. 15, 2020 and is still waiting for the approval.
- The ISX invited listed companies for participating in Zoom conference calls for the purpose of communicating with the shareholders and attracting investors. During the conference calls, the listed companies will disclose recent financial results and 2020 plans. Zoom conference calls with the ISX listed companies will continue to be held until the end of Sep. 2020. The speakers of the first two Zoom conference calls will be Bank of Baghdad (Jul. 10th), and National Bank of Iraq (Jul. 11th), respectively.
- Cross transaction: 2.0 bn shares of Trust International Islamic Bank (BTRU) on Jul. 8, 2020, which represents 0.8% of BTRU’s capital.