Iraq Stock Market Report

Posted by on Jun 03, 2014 | Leave a Comment

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th May 2014).

The RSISX index ended the week at ID1,843 (-0.9%)/ $1,958 (-0.9%) (weekly change). The number of week traded shares was 2.9bn and the weekly trading volume was ID4.8bn ($3.9mn)

ISX Company Announcements
Asiacell’s (TASC) 1Q14 (unaudited) financial results:
P&L (Quarterly) – 1Q14: Sales: IQD512.9bn, -9% y/y, EBITDA: IQD230bn, -19% y/y (EBITDA Margin: 44.9% in 1Q14, decreased from 50.1% in 1Q13), Net Profit: IQD102bn, -34% y/y (Net Profit Margin: 19.9% in 1Q14, decreased from 27.4% in 1Q13). Total customer base increased to 10.8mn by end of 1Q14, up 5% y/y. (Source: Asiacell Q1-2014 Earnings Release)

Iraqi for Tufted Carpets (IITC) will hold its AGM* on June 15, 2014 to discuss 2013 annual financial results and distributing 25% (IQD0.25 per share) cash dividend. ISX will suspend trading of IITC starting on June 8, 2014.
Kurdistan Int. Bank (BKUI) will hold its AGM* on June 14, 2014 to discuss 2013 annual financial results, increasing its capital from IQD300bn to IQD400bn through 33.3% bonus issue and electing new board members. ISX will suspend trading of BKUI starting on Jun. 8, 2014.

ISC has approved (on Wednesday) to extend 15 more days for Iraqi for Seed Production (AISP) for its new shares to resume trading from the capital increase through 15% bonus issue.

 

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