Rabee Securities Iraq Stock Exchange For Week Ending Jan. 26
ISX is pleased to announced that is has successfully connected Rabee Securities/Sulymania Office with ISX E-Trading System. Trading and execution are now available from Rabee Securities/Sulymania starting from January 26th, 2012.
The RSISX index ended the week at ID1,326 / $1,455, -2.7% (weekly change). The number of weekly traded shares was 8.8bn and the weekly trading volume wasID14.1bn ($11.9mn).
Best Performers - Weekly Code Price (ID) Price Chn/w IKLV 2.750 5.0% IBSD 1.310 4.8% AIPM 8.100 3.4% IIDP 1.370 3.0% HTVM 30.900 3.0%
Worst Performers - Weekly Code Price (ID) Price Chn/w BDSI 3.460 -12.4% VQUF 1.620 -9.5% BUND 2.180 -7.6% SMRI 2.770 -6.7% HBAY 32.250 -5.8%
Top 5 Traded Volume - Weekly Code Price (ID) TradingVol. (IDmn)/w TradingVol. ($mn)/w BNOR 1.800 2,985 2.5 BKUI 1.940 1,282 1.1 BUND 2.180 1,079 0.9 BGUC 0.900 1,021 0.9 BIME 1.760 1,000 0.8
ISX Company Announcements
· On Jan. 24, we received North Bank's (BNOR) 2011 year-end (unaudited) financial statements. Brief financial results are as the following: B/S - FY11 (Assets: ID921bn, -15% q/q (+4% y/y), Investments: ID19bn, +0.3% q/q (+84% y/y), Loans: ID269bn, - 2% q/q (+20% y/y), Deposits: ID634bn, -23 q/q (-11% y/y), BV: ID225bn, +22% q/q (+48% y/y), P&L (quarterly) - 4Q11 (Estimated NBI: ID20.7bn, +61% q/q (+138% y/y), Operating Profit: ID18.0bn, +74% q/q (+218% y/y), Profit Before Tax: ID16.9bn, +68% q/q (+150% y/y)). P&L (annual) - FY11 (Estimated NBI: ID56.4bn, +46% y/y, Operating Profit: ID46.3bn, 52X% y/y, Profit Before Tax: ID44.7bn, +49% y/y).
· According to the memo (Ref. # 10/183) published by Iraqi Securities Commission (ISC) on Jan. 25, 2012, ISC suspended trading of the following companies due to their failure to submit 3Q2011 financial reports in the due time: Al-Qum'a for Financial Investment (VQUF), Kirkuk for Producing (IKFP) and Northern Soft Drinks & Mineral Water (INSD). In addition, it was mentioned that the following companies will continue to be suspended from trading: Electronic Industries (IELI), The Light Industries (ITLI), Palestine Hotel (HPAL) and Ishtar Hotels (HISH).
· ISC decided to delist AL-Therar for Agricultural Production (ATHP) during the first ISC Board Meeting in 2012. There were no details in ISC website about this decision (# 4/1/2012).
· ISC decided on Jan. 23 to (# 1/1/2012) to add the following paragraph to the regulations of the Iraq Stock Exchange Market. "In case there is a change in a share price, which is very close to the highest point in two sequenced sessions, the trading of the share will be suspended, and an inquiry letter will be prepared to the Board of Directors of the Company. The shares of the company will be resumed trading after receiving the answer of the Board of Directors."
· A cross transaction occurred on 540.5mn North Bank (BNOR) shares on Jan. 25.
· A cross transaction occurred on 467.9mn Commercial Bank (BCOI) shares on Jan. 25.
· Al-Kindi of Vet. Vac. (IKLV) will hold AGM on Feb. 9, 2012 to elect new board members.
· A cross transaction occurred on 1bn North Bank (BNOR) shares on Jan. 23, 2012.
This market update was produced by the Rabee Securities Research Team. For the full RS Weekly Bulletin go to our website www.rabeesecurities.com
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