Egyptian Stock Exchange News
The Egyptian Stock Exchange [EGX] diversified during the trading session on Wednesday, 29-5-2019. The most important of these was the end of the Egyptian Stock Exchange indices, the trading session on Wednesday, the collective decline of the stock market indices, amid the continued relative improvement in the liquidity level, and the market capitalization decreased by 4.6 billion pounds to close At LE 753.781 billion.
The stock market is losing 4.6 billion pounds
Foreign investors' sales, Egyptian stock indexes, led to a retreat in Wednesday's trading session, amid continued relative improvement in the liquidity level. The market capitalization also declined by 4.6 billion pounds to close at 753.781 billion pounds.
The volume of trading on the shares amounted to 163.2 million securities worth 637 million pounds, through the implementation of 17.5 thousand transactions for 162 companies, the Egyptians accounted for 55.67% of the total transactions, while foreigners accounted for 32.99% and Arabs at 11.34% during the trading session today, Institutions accounted for 54.52% of the stock exchange transactions. The rest of the transactions were for individuals at 45.47%.
The net transactions of Arab individuals and Egyptian and foreign institutions for sale amounted to EGP 7.8 million, EGP 11.6 million and EGP 105.1 million, respectively. The net transactions of Egyptian, foreign and Arab companies were EGP 30 million, EGP 786 thousand and EGP 93.7 million respectively. , Respectively.
The EGX30 index shed 0.38% to close at 13974 points. The EGX 50 index fell 0.66% to close at 2109 points. The EGX30 index of weights dropped 0.71% to close at 17346 points.
On the other hand, the index of EGX70 declined by 0.17% to close at 602 points. The EGX 100 index fell 0.28% to close at 1537 points. The Nile index rose 0.06% to close at 452 points.
Shares of 44 listed companies closed at the close of trading, 70 companies fell, and 48 companies remained unchanged.
Registration Committee
The Listing Committee of the Egyptian Stock Exchange [EGX] decided on Wednesday to alert five companies to comply with the provisions of Article 31 of the Listing and Deletion Rules of the Egyptian Stock Exchange and Article 45 of the future executive procedures.
The committee addressed Talaat Moustafa Group Holding, Tharwa Capital Holding, Medical Packaging, Saba International Pharmaceutical and Chemical Industries, and Housing and Development Bank.
Article 31 of the Listing Rules of the Stock Exchange stipulates that the company bound by the securities of the Egyptian Stock Exchange shall submit to the Authority and the Stock Exchange the resolutions of the Ordinary General Assembly and the Extraordinary General Assembly upon its expiry and at the latest before the commencement of the first trading session following the end of the meeting. The Company shall also submit to the Stock Exchange within one The General Assembly shall convene the minutes, provided that it is approved by the Chairman of the Board of Directors.
The Company shall be obliged to provide the Stock Exchange with the minutes of the General Assembly meetings approved by the competent administrative authority within a period not exceeding 3 working days from the date of its receipt. The Stock Exchange shall be obliged to publish the above mentioned resolutions and minutes as soon as they appear on the trading screens and on the website of the Stock Exchange.
The Committee also decided to contact Saba International for Pharmaceuticals and Chemical Industries to alert the Company to take into account the provisions of Article 28 of the rules of registration and cancellation of securities and Article 51 of the future executive procedures.
Univert
The Securities Listing Committee decided on Wednesday to approve the operation of Univert Food Industries Company in the procedures of delisting the company's issued share capital with an issued capital of LE 89.8 million distributed over 89.8 million shares at a nominal value of LE 1 per share Egyptian securities market for small and medium enterprises.
The committee linked the execution of the company's write-off process after the purchase of the shares of the affected shareholders, including the objectors in accordance with Article 55 and 55bis of the Listing Rules and Article 74 of the executive procedures. The shares were free to trade 14.1% of the total shares of the Company.
Trading on Univert Food Industries was suspended on the open market as of the beginning of last Sunday's trading session. The final write-off of the company's shares will be presented to the registration committee after the company's purchase of the shares of the shareholders affected by the write-off, From the stock exchange database.
Hassan Rateb
Businessman Hassan Ratib, a two-million-share stake from his Sinai Cement company, sold to Reliance Logistics at a price of LE 8.25 per share for a total value of LE 16.5 million.
According to a report sent by the company to the Egyptian Stock Exchange on Wednesday, the share of Hassan Rateb in Sinai Cement decreased from 9.689% to 6.75%. In contrast, Reliance Logistics increased from 7.504% to 10.445%, in addition to 1.10%.
About a week ago, El Sewedy Cement Company sold its entire stake in Sinai Cement Company, with 5.08 million shares, to Reliance at a value of LE 41.97 million, with an average selling price of LE 8.25 per share.
Sinai Cement reported a net loss of 78.16 million pounds from the beginning of January to the end of March, compared with 83.98 million pounds in the same period last year. The company's sales rose during the first three months of this year, recording 201.08 million pounds at the end of March, compared to 147.99 million pounds during the same period last year.
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