ISX News

[HumbleGenius]

Thanks HG,
My second largest number of shares holding under Warka, ( all the negative waves man ) LOL
Can't figure out why their trading volume is still there, hmmmm

Well, I have not written off Warka but I would prefer to hear more from them. I dont have much hope in SIGT, IELI, IEAB or INFI coming back so I do have a bit of a whimper. BUT I have done good on others and I knew from the start I would lose a certain percentage of stocks with companies not making it so it is moving along as I figured it would now. Some good some bad, but heck, I did wake up this morning right?

[WhiteFeather]

Summer Commercial Bank (BSUC)
Summer Commercial Bank (BSUC) resumed trading today, Feb. 28, 2012 after increasing its capital from ID100bn to ID105bn through 5% rights issue.


Union Bank of Iraq (BUOI)
Union Bank of Iraq (BUOI) resumed trading today, Feb. 28, 2012 after increasing its capital from ID50bn to ID59.80bn through bonus issue which is still below the first target capital of ID100bn set by the CBI for the end of June 2011. However, the CBI gave permission to Union Bank of Iraq (BUOI) to reach directly to the second target capital of ID150bn set for June 30th, 2012. BUOI closed the day at ID0.84per share, down 4.6%.

[calstar]

Thanks WF I have been wait for Union Bank.

[Dinar Index]

I am thinking of putting some more funds into the ISX I have not been keeping up to date with current prices, can I have some recommendations on any shares that you think are a good buy and please state as to why you believe they are a good buy.
Thanks in advance

[WhiteFeather]

ISX will suspend trading of Sumer Commercial Bank (BSUC) starting on March 8, 2011.
Sumer Commercial Bank (BSUC) will hold AGM on March 15, 2012 to discuss 2011 financial statements and capital increase through rights issue. ISX will suspend trading of BSUC starting on March 8, 2011.


Trading released to El-Tihad Bank Company as of Tuesday Session 28/02/2012.
26/02/2012 10:29 With Regard to the time limit given by Iraqi Central Bank to El-tihad Iraqi Bank through June 30, 2012 to increase Company's Capital up to (150) Iraq Billion Dinar.Company's Shares will resume trading as of Tuesday Session 28/02/2012.after the company has completed Capital Increase procedures from (50) Billion Iraqi Dinar, The first session will start at the price of (0,880) Dinar, higher change ratio is (50%) and less than (0,880).

[Kickabuck]

Thanks for the news WF

Sumer's ticker symbol is symbolic of it's news BSUC is not giving free shares, but instead is asking for paid up capital. Who in their right mind will buy these at 1 when today's price sits at .77 (down 7% today on this news).

[WhiteFeather]

Wish I knew the formula, what to unload and what to keep, I own three out of the four HG is giving up on, and Warka is my largest holding Thank You, and Al-Hilal second.


FROM KICK

ISX teaches lesson in patience
Posted on 29 February 2012. Tags: Emerging markets, ISC, ISX

So far this year Iraqi stocks have been surprisingly oblivious to three very bullish developments. The Iraq Securities Commission has finally issued its instruction on custodian bank licenses. (See this post for more on custodian banks.) The European Central Bank (ECB) is running its printing presses at maximum capacity. And earnings are up sharply at the ISX-listed banks.

The implications for foreign investment inflows are obvious. A solution to the custody problem will make it technically possible for more conservatively run institutions to invest. The ECB’s efforts will provide them with the necessary funds. And the rise in bank profits will make it easier for them to convince themselves that stocks are cheap on a valuation basis.

Yet the Rabee Securities index is down about 11% YTD and there has been no appreciable increase in trading volumes.

Either there is some hidden problem or local investors simply don’t believe that more foreigners are really coming. I think the latter is more likely. All this bullish news will only move the market if it convinces someone to front-run potential new money. Otherwise, the market isn’t going to go up until this money actually starts coming in.

In an efficient market you might expect prices to go up gradually in anticipation of such an event. When the moment finally arrived, there might not be that much upside left. But emerging markets don’t work this way. The adjustment will happen all at once, quite a while after anyone should have been able to see what was coming. The trick is not to cash in your chips before this happens.

http://www.iraq-businessnews.com/201...n-in-patience/

[HumbleGenius]

Summer Commercial Bank (BSUC)
Summer Commercial Bank (BSUC) resumed trading today, Feb. 28, 2012 after increasing its capital from ID100bn to ID105bn through 5% rights issue.


Union Bank of Iraq (BUOI)
Union Bank of Iraq (BUOI) resumed trading today, Feb. 28, 2012 after increasing its capital from ID50bn to ID59.80bn through bonus issue which is still below the first target capital of ID100bn set by the CBI for the end of June 2011. However, the CBI gave permission to Union Bank of Iraq (BUOI) to reach directly to the second target capital of ID150bn set for June 30th, 2012. BUOI closed the day at ID0.84per share, down 4.6%.

Understanding the ISX is much more of a gamble than a true investment vehicle I am changing my strategy a little in my purchases. I bought a minimum of Union based on the read between the lines the CBI may believe / have info that Union will be able to make the minimum. I am guessing merger of some sort. I base this on the red hi-lited part above.

Let the dice roll.

Good luck all,
HG

[chakkarchee]

[QUOTE=HumbleGenius;1145750]Understanding the ISX is much more of a gamble than a true investment vehicle I am changing my strategy a little in my purchases. I bought a minimum of Union based on the read between the lines the CBI may believe / have info that Union will be able to make the minimum. I am guessing merger of some sort. I base this on the red hi-lited part above.

Let the dice roll.

Like to know more on how the mergers or new foreign bank introduction will affect the local banks prices or their survival ???

I have already unloaded Hilal, Light, Carton, Electronics and some others , i think these are duds only fulfiling unemployment for the Govt and not able to offer much. So they have limited prospect, these will probably goes up if the whole market goes up unless some able management makes difference to some randon stock.

I am adding Mansour, Kendi, Chemical and some others as these are speciliazed by having certain licences and exposure all over Iraq.

I am consolidating and try to cherry pick from stocks past record being price movement and shars offered

[trusty]

[QUOTE=chakkarchee;1145752]

Understanding the ISX is much more of a gamble than a true investment vehicle I am changing my strategy a little in my purchases. I bought a minimum of Union based on the read between the lines the CBI may believe / have info that Union will be able to make the minimum. I am guessing merger of some sort. I base this on the red hi-lited part above.

Let the dice roll.

Like to know more on how the mergers or new foreign bank introduction will affect the local banks prices or their survival ???

I have already unloaded Hilal, Light, Carton, Electronics and some others , i think these are duds only fulfiling unemployment for the Govt and not able to offer much. So they have limited prospect, these will probably goes up if the whole market goes up unless some able management makes difference to some randon stock.

I am adding Mansour, Kendi, Chemical and some others as these are speciliazed by having certain licences and exposure all over Iraq.

I am consolidating and try to cherry pick from stocks past record being price movement and shars offered

I don't recognize "Kendi" what is the symbol?

Thanks
Trusty

[chakkarchee]

AL- Kindi of Veterinary Vaccines IKLV , I believe this eventually will also come out good

[trusty]

AL- Kindi of Veterinary Vaccines IKLV , I believe this eventually will also come out good

Thanks..I will take a peak.

Trusty

[Kickabuck]

The B-"SUC" rate looks official per Mubasher : Raising capital to IQD 105 Billion through issuing priority shares. The new share price will be IQD 1.

This looks like another bank that may fold in the near future. It's like a longshot horse...it's still running and anything can happen, they could potentially have a "Major" bank waiting in the wings to enter the marketspace under their profile...who knows??? This market will quickly give you a LOVE/HATE relationship if you spend enough time here.

[Fishindinar]

All this time I thought Mike had inside info, I guess not!

[Chaka]

Anybody heard from Chaka

Inundated with work but still kicking

[Uno]

Great to see you online my friend! Hope all is well!

Inundated with work but still kicking

[War Eagle]

Boy,is Sean Hyman in for the SHOCK of his life!!!!!!

[HumbleGenius]

Inundated with work but still kicking

You're not in the failing bank business are you?

[WhiteFeather]

Al-Mansour Pharmaceuticals Ind. (IMAP)
ISX will suspend trading of Al-Mansour Pharmaceuticals Ind. (IMAP) starting on March 24.
Al-Mansour Pharmaceuticals Ind. (IMAP) will hold AGM on Mar. 31, 2012 to discuss 2011 financial statements and cash dividend ratio. ISX will suspend trading of IMAP starting on March 24.

Sumer Commercial Bank (BSUC)
ISX will suspend trading of Sumer Commercial Bank (BSUC) starting tomorrow, March 8, 2011.
Sumer Commercial Bank (BSUC) will hold AGM on March 15, 2012 to discuss 2011 financial statements and capital increase through rights issue. ISX will suspend trading of BSUC starting tomorrow, March 8, 2011.

[WhiteFeather]

ISX Company Announcements

This week United Bank (BUND) announced its 2011 annual report.

Iraq’s central bank has reportedly placed private bank, Warka Bank under guardianship to supervise it through insolvency. According to the report from Reuters, Mudher Kasim, deputy governor of the central Bank of Iraq, said: “We gave Warka a chance to have Standard Chartered to be a partner but that did not happen, so there was nothing we could do as a financial authority, but to intervene as a guardian. He said the central bank would appoint a new temporary administration to run Warka Bank, which would be given a month to appoint an auditor to determine how to restructure it and whether it needs to sell assets to raise capital. (Iraq-Business News)

Al-Mansour Bank (BMNS) held its General Assembly (GA) meeting on Mar. 6, 2012. In this meeting, shareholders approved the board decision to increase the capital from ID100bn to ID236bn through 51% bonus issue and 85% rights issue. Rights issue will be only paid by the major shareholder, Qatar National Bank (QNB) and its share in the bank will reach 51% from 23%. In addition, BMNS decided to distribute 7.12% cash dividend to shareholders.

Mosul Bank (BMFI) held its GA meeting on Mar. 5, 2012. Shareholders decided to increase the capital from ID75bn to ID100bn by around 13% bonus issue and 20% rights issue.

Sumer Commercial Bank (BSUC) will hold AGM on Mar. 15, 2012 to discuss 2011 financial statements and capital increase through rights issue. ISX suspended trading of BSUC starting Mar. 8, 2012.

Ishtar Hotel (HISH) will hold AGM on Mar. 22, 2012 to discuss 2010 financial statements. ISX will suspend trading of HISH starting on March 15.

Al-Mansour Pharmaceuticals Ind. (IMAP) will hold AGM on Mar. 31, 2012 to discuss 2011 financial statements and cash dividend ratio. ISX will suspend trading of IMAP starting on March 24.