Rabee Securities Iraq Inventory Trade (ISX) market report (week ending: twenty second September 2022).
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The RSISX index ended the week at IQD940 (+1.1%) / $822 (+1.1%) (weekly change) (+2.4% and +2.1% YTD change, respectively). The variety of week traded shares was 31.5 bn and the weekly buying and selling quantity was IQD9.0 bn ($6.0 mn).
ISX Firm Bulletins
- This week there have been two cross transactions on 29.3 bn shares of Economic system Financial institution (BEFI) on Sep. 19 and Sep. 20, valued at IQD5.9 bn, and so they had been equivalent to 11.7% of BEFI’s capital.
- The Iraq Inventory Trade (ISX) and Elaf Islamic Financial institution (BELF) signed on Sep. 20 a license contract – Al-Hafidh Al-Ameen (the custodian) -, within the presence and supervision of the Iraq Securities Fee (ISC), after the completion of the necessities of the custodian’s directions together with acquiring the approval of the Central Financial institution of Iraq (CBI), ISC and the Board of Governors of the ISX. The principle custodian providers which might be offered to traders (who’re wishing to obtain these providers) are opening securities account for every investor, protecting securities, notifying the investor of all selections and actions taken by joint inventory firms associated to the rights related to their securities. (ISX)
- Shares that resumed / will resume buying and selling:
- Unique shares of Trendy Animal and Agricultural Manufacturing (AMAP) will resume buying and selling on Sep. 25 after holding its AGM (Sep. 15) by which they mentioned and authorized 2021 annual monetary statements and determined to extend the capital to IQD20.5 bn by way of 400% rights problem and approving amending the title of the corporate by including an exercise of “Commerce and Trade of Foodstuffs”.
- Area Commerce Financial institution (BRTB) resumed buying and selling on Sep. 20 after holding its AGM (Sep. 13) by which they mentioned and authorized 2021 annual monetary statements.
- Iraqi Agricultural Merchandise and Advertising Meat (AIPM) resumed buying and selling on Sep. 19 resulting from disclosing its monetary statements.
- Shares that had been suspended / might be suspended from buying and selling:
- ISX suspended buying and selling of Industrial Financial institution of Iraq (BCOI) beginning Sep. 22 as a result of AGM that might be held on Sep. 27 to debate and approve 2021 annual monetary statements and focus on money dividends distribution.
- ISX will droop buying and selling of Al Mustashar Islamic Financial institution for Funding & Finance (BMUI) beginning Sep. 28 as a result of AGM that might be held on Oct. 3 to debate and approve 2021 annual monetary statements.
- CBI introduced July’s knowledge for Iraq banking sector this week. Accordingly, whole belongings elevated 0.8% m/m (+8.6% ytd) to IQD173.1 trln ($116.2) as finish of July 2022, whole deposits elevated 2.9% m/m (+12.1% ytd) to IQD107.7 trln ($72.3 bn) and whole credit decreased 0.7% m/m (+6.1% ytd) to IQD56.2 trln ($37.7 bn) as finish of July 2022.
- CBI introduced up to date numbers for inflation and its web international belongings. Accordingly, annual inflation for July 2022 introduced at 5.4% decreased from 5.5% in June. Web International Property of CBI introduced at IQD119.0 trln ($79.7 bn) as of Aug. 25, 2022, up 28.0% because the finish of 2021.