Just the other day I wrote a brief introduction about the Iraqi Stock Exchange, Now it seems the proper time to make an update.
It appears that 23 companies has been suspended by the Iraq Securities Commission ISC according to the main ISX web portal. Some of these companies have failed to file 2010 annual reports. While Some other failed to file Q1 report for 2011 even after 60 days permit (Which is very generous because the had from 1 Jan - 1 June to do that)
This external links is the original copies of the final outcome. In Arabic
Annual reports 2010 : http://www.isx-iq.net/isxportal/files/story0_111_8_0_1_36_1.pdf
Q1 report 2011 : http://www.isx-iq.net/isxportal/files/story0_111_8_0_1_54_42.pdf
It is not available in Arabic but I'll translate it anyway.
1- Issue: 10/1589
Date: 2011-08-03
To/ the Council of Iraqi Stock Exchange
Our best regards.
Due to the lack of filing the 2010 annual reports and after exceeding the legal term to file the proper documents according to point (14) of the ISC guideline we decided to suspend trading stocks of these companies.
Attached : A list of the suspended companies.
Copy to :
2- Issue: 10/1590
Date: 2011-08-03
To/ the Council of Iraqi Stock Exchange
Our best regards.
Due to the lack of filing the first quarter of 2011 report and after exceeding the legal term of (60) days to file the proper documents, in addition to the extra month we allowed them to provide us with the documents ,we decided to suspend trading stocks of these companies.
Attached : A list of the suspended companies. (I will mark them in red later)
Copy to :
The Companies are : Issue 1 only in White, Issue 2 only in Yellow, Both Issues in Red
I will blog tomorrow about the ramifications of these suspensions after I gather more news about it
__________________________
Update : These companies :
Iraqi For Meat production & Marketing (AIPM) / Mixed Joint Stock Company
AL-Mansour Hotel (HMAN) / Mixed Joint Stock Company
Allowed back to trade stocks from the 9th and 10th of August respectively. After fulfilling the required documents which was Annual financial report for 2010.
It appears that 23 companies has been suspended by the Iraq Securities Commission ISC according to the main ISX web portal. Some of these companies have failed to file 2010 annual reports. While Some other failed to file Q1 report for 2011 even after 60 days permit (Which is very generous because the had from 1 Jan - 1 June to do that)
This external links is the original copies of the final outcome. In Arabic
Annual reports 2010 : http://www.isx-iq.net/isxportal/files/story0_111_8_0_1_36_1.pdf
Q1 report 2011 : http://www.isx-iq.net/isxportal/files/story0_111_8_0_1_54_42.pdf
It is not available in Arabic but I'll translate it anyway.
1- Issue: 10/1589
Date: 2011-08-03
To/ the Council of Iraqi Stock Exchange
Our best regards.
Due to the lack of filing the 2010 annual reports and after exceeding the legal term to file the proper documents according to point (14) of the ISC guideline we decided to suspend trading stocks of these companies.
Attached : A list of the suspended companies.
Copy to :
- Board of supreme audit of republic of Iraq , to continue your efforts to complete the auditing processes.
- Iraqi Stock Exchange , to publish it and states it in the advertisement board and via the website
2- Issue: 10/1590
Date: 2011-08-03
To/ the Council of Iraqi Stock Exchange
Our best regards.
Due to the lack of filing the first quarter of 2011 report and after exceeding the legal term of (60) days to file the proper documents, in addition to the extra month we allowed them to provide us with the documents ,we decided to suspend trading stocks of these companies.
Attached : A list of the suspended companies. (I will mark them in red later)
Copy to :
- Iraqi Stock Exchange , to publish it and states it in the advertisement board and via the website
The Companies are : Issue 1 only in White, Issue 2 only in Yellow, Both Issues in Red
- Investment Bank (BIBI)/ Private Sector Company
- Sumer Commercial Bank (BSUC)/ Private Sector Company
- Nineveh Food Industries (INFI)/ Private Sector Company
- Eastern Brewery (IEAB)/ Private Sector Company
- Al-Hilal Industries (IHLI)/ Mixed Joint Stock Company
- The Light Industries (ITLI) / Mixed Joint Stock Company
- AL- Kindi for Production of Veterinary (IKLV) / Mixed Joint Stock Company
- Modern Paint Industries (IMPI) / Mixed Joint Stock Company
- National Metallic Industries & Bicycles (IMIB) / Mixed Joint Stock Company
- Iraqi Date Processing & Marketing (IIDP) / Mixed Joint Stock Company
- Northern Soft Drinks & Mineral Water (INSD) / Private Sector Company
- Ready Made Clothes (IRMC) / Mixed Joint Stock Company
- Modern Sewing (IMOS) / Private Sector Company
- Electronic Industries (IELI) / Mixed Joint Stock Company
- Palestine Hotel (HPAL) / Mixed Joint Stock Company
- Ishtar Hotels (HISH) / Mixed Joint Stock Company
- AL-Mansour Hotel (HMAN) / Mixed Joint Stock Company
- Iraqi Land Transport (SILT) / Mixed Joint Stock Company
- Baghdad Passengers Transport (SBPT) / Mixed Joint Stock Company
- Iraqi for General Transportation (SIGT) / Mixed Joint Stock Company
- Baghdad Motor cars Servicing (SBMC) / Mixed Joint Stock Company
- AL-Therar for Agricultural Production (ATHP) / Private Sector Company
- Iraqi For Meat production & Marketing (AIPM) / Mixed Joint Stock Company
I will blog tomorrow about the ramifications of these suspensions after I gather more news about it
__________________________
Update : These companies :
Iraqi For Meat production & Marketing (AIPM) / Mixed Joint Stock Company
AL-Mansour Hotel (HMAN) / Mixed Joint Stock Company
Allowed back to trade stocks from the 9th and 10th of August respectively. After fulfilling the required documents which was Annual financial report for 2010.
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