Iraq Stock Exchange reports record growth in 2024 as key economic indicators surge

Shafaq News/ On Saturday, the Iraqi Securities Commission (ISC) announced significant financial and economic milestones for 2024, citing notable growth in the Iraqi stock market and an expansion of its activities.

According to the ISC's annual report, the number of registered companies reached 112, categorized as follows:

- Listed Companies: 104 companies across regulated and secondary trading platforms, including non-disclosing entities.

- Unlisted Platform (ISX-OTC): 8 companies.

Government Bonds Activity

The market facilitated trading in several government bond types, including:

- Construction Bonds: Two issues in two categories.

- Reconstruction Bonds: Three issues in two categories.

- Completion Bonds: Two issues in two categories.

Bond Trading Highlights

1. Construction Bonds (Issue 2): 25,000 bonds traded, valued at 24.12 billion Iraqi dinars.

2. Reconstruction Bonds (Issue 1): 5 bonds traded, valued at 4.92 million dinars.

Stock Market Indicators for 2024

The ISC reported robust activity in stock trading:

1. Total Shares Traded: 809.7 billion shares, marking a 17% increase from 2023.

2. Trading Value: 690.4 billion dinars, a 3% rise year-on-year.

3. Executed Contracts: 182,967 contracts, reflecting a 17% growth.

Market Indexes

- ISX60 Index: Closed December at 1,073.84 points, a 20.23% increase from the previous year.

- ISX15 Index: Closed at 1,174.65 points, up 10.12% since its launch.

- Market Capitalization: Reached 22.33 trillion dinars, up 19% from 2023.

ISX-OTC Platform Activity

The unlisted platform (ISX-OTC) reported:

- Shares Traded: 5.98 billion shares.

- Trading Value: 2.59 billion dinars across 2,295 transactions involving three companies (Al-Warka Bank, Rabee Brokerage, Al-Karmal Brokerage).

- Market Capitalization: 105.7 billion dinars.

Updates from Listed Companies

- Annual General Meetings: 72 companies held meetings.

- Financial Reporting: 80 companies submitted annual reports for 2023.

- Capital Increases: 17 companies raised capital under corporate law.

- Dividend Distribution: 22 companies distributed dividends.

Optimism for the Future

Faisal Al-Haimus, the President of ISC, highlighted the positive outcomes achieved in 2024. "The strong indicators demonstrate our ongoing efforts to regulate the market, enhance transparency, and build investor confidence," he stated.

"Our goal is to establish the stock market as a cornerstone of Iraq’s national economy while attracting local and international investments."

Looking ahead, Al-Haimus pledged to enhance the market infrastructure and broaden public and private sector participation.

Upcoming Trading Session

The ISC announced that the first trading session for 2025 is scheduled for Tuesday, January 7, 2025, adhering to the official trading schedule.