Iraq Stock Market Report

(MENAFN - Iraq Business News) Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th March 2021). Please click here to view a table of listed companie s and their associated ticker codes. The RSISX index ended the week at IQD914 (-4.0%) / $812 (-3.3%) (weekly change) ( +26.0% and +22.5% YTD change, respectively). The number of week traded shares was 16.1 bn and the weekly trading volume was IQD7.7 bn ( $5.2 mn ). ISX Company Announcements The Chairman of the Iraqi Securities Commission (ISC), Mr. Faisal Al-Haimas announced on Mar. 25 that trading hours in ISX will be increased for the two sessions, Monday and Wednesday, from 9:30 a.m. to 3:00 p.m. starting from Apr. 5, 2021 to attract more investors and encourage increasing the trading activity. National Bank of Iraq (BNOI) resumed trading today (Mar. 25) after being suspended for its AGM (Mar. 18) in which they discussed and approved 2020 annual financial statements and decided to distribute 8.0% cash dividend (IQD0.08 dividend per share, 9.2% dividend yield). Kharkh Tour Amuzement City (SKTA) invited its shareholders for the public subscription on 500 mn shares starting on Mar. 31, 2021 to increase its capital from IQD1.0 bn to IQD1.5 bn through 50% rights issue. ISX suspended trading of Baghdad Hotel (HBAG) starting Mar. 24, 2021 due to the GA that will be held on Mar. 29, 2021 to discuss the issue of exempting the investing company for the Baghdad Hotel, Jamal Al-Wedyan Tourism Investments Company, from the rental allowance for the period from Feb. 20, 2020 until Aug. 9, 2020 as a result of the outbreak due to Coronavirus. Baghdad Soft Drinks (IBSD) held a joint GM with the general authority of Al-Zaki Group Company on Mar. 18 regarding merging and approved the articles of association prepared by the two companies. The capital reached IQD204 bn with the merger. The attendees unanimously elected Hajj Essam Al-Asadi as the Chairman of the Board of Directors of Baghdad Soft Drinks Company. Also, ISX notified IBSD on Tuesday to announce the merger with Al-Zaki Group Company in an official newspaper and the company website as well. Therefore, trading will start after 7 days of the announcement. Gulf Insurance and Reinsurance (NGIR) resumed trading on Mar. 23, 2021 after electing 7 original and 7 alternative board members in its GA held on Mar. 15, 2021. MENAFN25032021000217011061ID1101812360