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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 20 August, most investors should be watching the following factors in the week ahead, with some companies holding ordinary general meetings to discuss different matters. Starting with Alexandria Flour Mills, the due date to subscribe in its capital hike will be for the shareholders of the stock as …


When Egypt’s stock market starts trading on Sunday 20 August, most investors should be watching the following factors in the week ahead, with some companies holding ordinary general meetings to discuss different matters.

Starting with Alexandria Flour Mills, the due date to subscribe in its capital hike will be for the shareholders of the stock as of 20 August.

The company reported a rise in profits by 77% year-on-year on the back of a growth in sales, as shown by the company’s financial indicators.

Profits reached EGP 64.8 million between July 2016 and July 2017, compared to EGP 36.6 million for the previous fiscal year.

Sales also increased to EGP 1.2 billion in FY 2016/17, up from EGP 1.1 billion in the year before.

Egypt Gas’ ordinary meeting will be held on 20 August to discuss different matters, according to a bourse filing.

The company’s stock prices hover around its highest level in nine years (3 July 2008).

Prime Research said that the company is one of the firms that most benefits from the Egyptian government’s decision to expand the delivery of gas to homes.

Egypt Free Shop’s record date for dividend eligibility will be for the shareholders until 21 August.

The company said in its preliminary budget for fiscal year 2017-2018 that it targets achieving profits of EGP 70.23 million, compared to EGP 85.36 million in the budget of the current year.

Meanwhile, the record date to subscribe in The Export Development Bank of Egypt (EBE) capital increase will be on 23 August.

The Egyptian Exchange’s (EGX) Listing Committee approved raising the issued capital of The Export Development Bank of Egypt (EBE) to EGP 1.7 billion, from EGP 1.4 billion, funded by statutory reserves and retained earnings.

The capital increase is distributed over 28.8 million shares, with a par value of EGP 10 per share, at one bonus share for each five shares before capital increase, according to statement to the EGX.

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