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  1. #1
    Supporter and Investor!
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    Commercial Banks whopping 200% paid up offer!

    Who's in on this deal???

    Is this Warka all over again, 200% paid up shares? Probably not. "If" it's true that Ahli United Bank of Bahrain actually owns 50-70% of the stock, one would think they are going to participate in their own offering.

    Now the question is: With the share price sitting around 1.27, is this worth the risk? Middle East Bank has 3X the profit of Commercial, it trades for .25 more. Gulf Bank has 2.5X their profit and trades for .07 more. Also, who knows what's up with Union Bank, they have 50% better profit numbers and trade around 1.04...go figure.

    The positive side of Commercial is that their price to book value is .9, I would expect the 27% gain to hold on paid up shares. But, if the majority shareholder doesn't subscribe to their shares (like Bunnia and Warka), everything will be at risk. Here's the update from Warka's website:

    Dear Warka Investors,
    We would like to bring to your kind attention that Commercial Bank has announced that it will be issuing:

    200% paid up shares at the price of IQD (1) per share for those shares owned and held prior to holding its general assembly meeting.

    Eligible Shareholders are kindly requested to submit their signed authorization letters to purchase the paid up shares by the 13 March 2013 Warka business hours where any request receivedafter this date and business hours will be considered null and void by our good bank.

    Please send your signed requests to our ISX department isx@warka-bank-iq.com

    Best regards,

    Warka ISX Department
    Warka Bank for Investment and Finance

  2. #2
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    Any dollar and change stock is not worth buying the offered paid up share in this ISX environment where sentiments are still negative. If it does come out of its stupid offer it will go down 1 iqd any way and would make it more cheaper to buy. Still if it is not good enough argument than think about Basra, Warka , Mosul, and many other sick industrial stocks that have no future at this point.

  3. #3
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    Don't be so negitive !!! ... Things could be changing as we speak.... My holdings have gone up almost 50% the last 6 mnths ... and then there is this...

    http://blogs.ft.com/beyond-brics/201...#axzz2MV4tHseM

    A MUST READ !!!!

    My Favorite part:

    "With three attractive mobile companies listing and a custody solution finally at hand, the ISX is now in a position to mobilise significant amounts of foreign capital. These two developments, combined with Iraq’s rapid economic growth and the strong outlook for corporate earnings, mean that 2013 might well be the year the ISX really takes off."

  4. #4
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    Quote Originally Posted by chakkarchee View Post
    Any dollar and change stock is not worth buying the offered paid up share in this ISX environment where sentiments are still negative. If it does come out of its stupid offer it will go down 1 iqd any way and would make it more cheaper to buy. Still if it is not good enough argument than think about Basra, Warka , Mosul, and many other sick industrial stocks that have no future at this point.
    I got 50% paid up shares at 1.00 dinar per share offer from Commercial Bank!! wonder why the difference???

  5. #5
    Supporter and Investor! haggisbasher's Avatar
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    Kickabuck is this the last year for paid up share offers and for banks to increase their capital to get access to goverment contracts.what is the requirement.anyone know.???????????/

  6. #6
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    Quote Originally Posted by haggisbasher View Post
    Kickabuck is this the last year for paid up share offers and for banks to increase their capital to get access to goverment contracts.what is the requirement.anyone know.???????????/
    i thought requirement was 350,000,000,000 by june!

  7. #7
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    Me too, Warka has been unavailable as far as answering emails.

    In my past dealings with them they were always prompt & courteous.

    I finally received my full portfolio last month after numerous requests, it was right on the money, that is a HUGE positive.

    I placed a buy order for Asiacell which I don't think got filled, I have sent NUMEROUS requests for another buy order or some sort of update as to my order confirmation have yet to get a reply.

    I'd like to get Asiacell and Zain in my portfolio, at that point I'll sit tight for another few years waiting for 50% retracements.

  8. #8
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    I'm done buying any more of anything in Iraq. You don't have to kick me twice.
    " Never forget everything Hitler did in Germany was legal " ---Martin Luther King jr.---

  9. #9
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    yes to that! I'm done buying any more stock until I start seeing results.
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

  10. #10
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    Quote Originally Posted by Fishindinar View Post
    I'm done buying any more of anything in Iraq. You don't have to kick me twice.

    me too. Man Warka giving me a hard time. No answer for squat. I am sick of them
    STILL IN PROXY

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