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Factors to watch in Egypt’s stock market in the week ahead - Daily News Egypt

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Factors to watch in Egypt’s stock market in the week ahead

When Egypt’s stock market starts trading on Sunday 6 August, most investors should be watching the following factors in the week ahead, while some companies hold their ordinary general meetings to discuss different matters. Starting with Abu Qir for Fertilisers bonus shares, the final date to be acquired by investors will be on 6 August. …


When Egypt’s stock market starts trading on Sunday 6 August, most investors should be watching the following factors in the week ahead, while some companies hold their ordinary general meetings to discuss different matters.

Starting with Abu Qir for Fertilisers bonus shares, the final date to be acquired by investors will be on 6 August.

The company has approved to raise the issued and paid-up capital from EGP 1.26 billion to EGP 1.89 billion via distributing a 0.5 bonus share for each ordinary share.

The company is capitalised at EGP 1.2 billion distributed across 84.15 million shares with a nominal value of EGP 15.

On 7 August, the company will start trading on its shares after the capital hike.

Giza General Contracting and Real Estate Investment Company approved a capital hike through issuing bonus shares, set for a quarter share for every original share, on 17 July.

In May, the company approved raising the company’s capital by EGP 41.3 million through the distribution of cash dividends at 25%.

Egyptian Chemical Industries’ (Kima) final date for its bonus shares will be on 9 August.

The company’s extraordinary general meeting (EGM) approved a capital raise from EGP 2.8 billion to EGP 2.9 billion via distributing bonus shares.

Meanwhile, Palm Hills Development Company is set to announce its financials for the second quarter on 10 August.

The company’s consolidated profits for the first quarter of fiscal year (FY) 2017 rose 101.4% year-on-year.

Net profits reached EGP 212.3 million in Q1 2017, versus EGP 105.4 million for Q1 2016, according to a bourse filing.

Standalone profits increased in Q1 2017 by 4.7% to EGP 119.1 million from EGP 113.7 million for Q1 2016.

Egypt Free Shops’ ordinary meeting will be on 10 August and will discuss the board proposals to distribute 0.8 pound for shares for FY 2016-2017 financials.

The company achieved net profit of EGP 87.7 million in the fiscal year that ended in June 30.

Topics: stock market

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