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News posted on Warka Website - Looking for cient investors?


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Just saw this posted on Warka website - http://www.warka-bank.com/?0d64a1934dcafd4bf6a2baffb8

Looks like they are asking clients if they want to buy shares in Warka to raise their capital. How much did they need to have? $250 billion iqd? Anyone remember share price before delisting?

english translation -
 

 
ahslogo.jpg

To all the customers of Warka Bank for Investment and Finance "

The management of Warka Bank for Investment and Finance is pleased to inform its customers that the Central Bank of Iraq has obtained the approval of the participation of customers from depositors who have bank accounts in all of our branches to contribute to the subscription of the shares of the bank in the amounts available in their accounts in whole or in part to increase the capital of the bank IV of the Companies Law Amended No. 21 of 1997).

Note that the subscription mechanism is regulated by an instrument or authorization from the customer account deposited to the subscription account and the applicant will be a shareholder in the capital of the bank under the certificate of shares to be supplied to them which are negotiable in the Iraqi market for securities after the completion of procedures to increase the capital of the bank, The nominal value of the share is one dinar.

Those wishing to do so must consult the bank's management within 15 days from the date of this declaration, and they will be accompanied by all the supporting documents.

with respect

Al Warka Investment & Finance Bank
 
 
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Thanks for the info DoD. The last share price I've been able to find was on the ISX dated 7 Feb 2010 though they weren't delisted until 30 Oct 2011. The price in 2010 was Low - 1.26 High 1.28

 

I've asked for more info about the offer so I wait to see what they send. Normally you can see a companies financial info before purchasing shares so.....don't think warka has put that info out in a few years :)

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Warka has posted the client share purchase info in english on their website - http://www.warka-bank.com/?0d64a1934dcafd4bf6a2baf7b165

 


To our esteemed and distinguished Warka clients,

Warka Bank for Investment and Finance is delighted to inform its fine clients that the distinguished Central Bank of Iraq has approved that our clients participate in the upcoming capital increase. Warka clients are now permitted to purchase Warka stock from the funds depoisted in their bank accounts participating in the capital increase in accordance with clause 56 no. 4 of the Iraqi Company Registration Law the adjusted law no. 21 for the year 1997 . There are no limitations to the amount of shares purchased where Warka clients are permitted to use their entire deposits to purchase Warka Stock participating in the Capital increase. 

Warka clients are kindly requested to submit a signed authorization letter authorizing our bank to withdraw funds from their account to purchase the stock indicating your account number, signature, the funds in IQD to be withdrawn from your account as well as a clear colored copy of your id and passport. 

The Warka stock will be purchased at a value of 1 IQD per Warka share and will be registered in the clients 's good name in the ISX depository system where the stock will re-trade regularly back in the Iraqi Stock Market once the general assembly hearing and capital increase procedures have been completed. 

Warka clients wishing to participate in the capital increase are kindly requested to send their authorization letter with the full details indicated above to our brokerage office 3044@warka-bank-iq.com within two weeks from posting this notice.

Wishing all our Warka clients prosperity and growth true success and much fortune

Respectfully,

Warka Bank for Investment and Finance 

 

Edited by jb4388
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thanks JB. I asked for more info but it looks like there's not much to go on. No numbers from warka as to how much they're looking to raise, total shares outstanding etc I know they haven't put out a financial statement in a long time. I think it is the $250 billion iqd total I read about years gone by. Too bad they don't give a date for the general assembly hearing.

 

One thing I'm thinking about is I don't have access to any of the money in my account right now so would buying some shares get warka open faster and get me access to the rest of my money.

 

Something to think about,,,,

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inertitle-rowleft.gif
DrawingCompanyChartServlet
Closing Price was 1.26 on 07/02/2010 
 
spacer.gif
Contact info:
Address:
Baghdad, Al-Kalanie sequare
Phone
+964-8869880 / +964-7178444 / +964-7172828
Mobile:
7706207245 / 07901359320
 
Equity Profile:
Establishing Date:
20/11/1999
Initial Capital:
250,000,000,000 IQD
Listing Date:
15/06/2004
Issued Capital:
75,000,000,000 IQD
Oustanding Shares :
75,000,000,000
Par Value :
1 IQD
spacer.gif
 
 
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http://www.baghdadnews.info/index.ph...ticle&id=34041

Central Bank approves the participation of depositors in Warka Bank by contributing to the process of subscription and reason !!

Baghdad News -

The Central Bank of Iraq approved the participation of customers from depositors who have bank accounts in all branches to participate in the subscription of the shares of the bank amounts available in their accounts in whole or in part to increase the capital of the bank (Article 56 paragraph IV of the Companies Law Amended No. 21 of 1997).

The bank said in a statement that the subscription mechanism will be regulated by an instrument or authorization from the customer's account deposited to the subscription account. The depositor will be a shareholder in the bank's capital under the certificate of shares to be supplied to them which are negotiable in the Iraqi market for securities after completion of capital increase procedures Bank, and that the nominal value of the share is one dinar.

The bank said, according to the statement, wishing to do so to review the management of the bank within the period of 15 days from the date of this announcement, accompanied by the supporting documents.

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Has anyone been able to buy stock in the bank yet! I think this is very big news. I was going to open an account years ago. Just as i was in the process to open an account. The freeze happened. I was sure happy at the time, I didnt lose that $5,000.00. For that matter Im still happy! Hoping someone will report back, on if they were allowed to buy bank stock! Thank you in advance! :salute:

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  • 2 years later...

Anyone know the latest on this subject? Can account holders still buy Warka Stock and is it a good idea? I'm aware that many here would like to get out of Warka if possible but if we have to have funds sitting there would it be wise to purchase some Warka Stock?

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Warka Bank is not currently listed on the ISX therefore you can't buy it. I do not know if Warka will get their affairs in order to be invited back to the ISX platform. If you hold Warka Stocks ( in your name , not in a proxy account) you hypothetically would stand a better chance selling them one day IF... Warka ever gets listed again on the ISX. Lots of unanswered questions at this point and Warka doesn't seem to be in a rush to answer these questions.

There are other banks listed on the ISX if your wanting to buy bank stocks, you just need to open an account with a broker.

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On 6/5/2020 at 8:36 AM, jb4388 said:

Warka Bank is not currently listed on the ISX therefore you can't buy it. I do not know if Warka will get their affairs in order to be invited back to the ISX platform. If you hold Warka Stocks ( in your name , not in a proxy account) you hypothetically would stand a better chance selling them one day IF... Warka ever gets listed again on the ISX. Lots of unanswered questions at this point and Warka doesn't seem to be in a rush to answer these questions.

There are other banks listed on the ISX if your wanting to buy bank stocks, you just need to open an account with a broker.

Thanks for your response jb 

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