Regulatory Alerts2024-06-30
Iraq Securities Commission Board Decision on Listing Shares of National Company for Food Industries and Al-Warka'a Bank on OTC Platform
The Iraqi Securities Commission Board, during its eighth session on June 5, 2024, approved the listing and deposit of shares for the National Company for Food Industries and Al-Warka'a Bank for Investment and Financing on the Over-The-Counter (OTC) platform. The Board mandated the application of a 'Red Flag' indicator to these shares in the trading system to alert investors to their specific financial status. This decision follows correspondence regarding the admission of companies with suspended status to the OTC market.
Republic of Iraq Council of Ministers Iraqi Securities Commission
Iraqi Securities Commission Board of Commissioners No.: 13/1 Date: 7/6/2024
To: Board of Governors of the Iraq Stock Exchange Re: Request for listing and depositing shares of the National Company for Food Industries and Al-Warka'a Bank for Investment and Financing in the Iraq Stock Exchange - (OTC) Platform
Greetings...
With reference to your letter No. M.M. 133 dated 7/4/2024 and in follow-up to our letter No. 8/13 dated 8/2/2024.
The Commission Board discussed, during its eighth session held on 5/6/2024, the matter of listing and depositing shares of joint-stock companies with suspended status on the Unlisted Companies platform of the Iraq Stock Exchange (OTC).
The Board decided that a 'Red Flag' indicator be placed on the company's shares in the trading system to alert investors to their financial status.
The Board also decided to approve the listing and depositing of shares of the following companies on the Unlisted Companies (OTC) platform, in accordance with the above:
- National Company for Food Industries (Private Joint-Stock).
- Al-Warka'a Bank for Investment and Financing (Private Joint-Stock).
With appreciation,
Nagham Hussein Ismail Deputy Chairman of the Securities Commission
Copies sent to:
- Iraq Stock Exchange... for taking necessary action... With appreciation.
- Office of the Chairman of the Commission... for information... With appreciation.
- Financial Reform Department... for information... With appreciation.
- Media and Government Communications Department... for publication... With appreciation.
- Administrative and Legal Department / Administration Section... With appreciation.
Baghdad - Al-Yarmouk District 612 St. 18 - House 12 - P.O. Box Baghdad: 3108 T 00964 7734 977 377 W www.isc.gov.iq E iraqisc@isc.gov.iq E iraqisc@yahoo.com
Baghdad - Al-Yarmouk, Neighborhood 612 - Alley 18 House 12 - P.O. Box Baghdad: 3108
Iraqi Securities Commission