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The Egyptian Stock Exchange continues to rise in the middle of trading, driven by Arab purchases


The indices of the Egyptian Stock Exchange continued to rise in the middle of the trading session today, Tuesday, the middle of the week’s sessions, driven by purchases from Arab dealers, while the transactions of Egyptians and foreigners tended to sell.

 

The "EGX30" index rose by 0.4% to reach the level of 10,740 points, the "EGX50" index rose by 1.85% to reach the level of 2326 points, and the "EGX30" weighted index jumped by 0.6% to reach the level of 13,222 points. The "EGX30" total return index increased by 0.47% to reach the level of 4,194 points.

 

The index of medium and small companies "EGX70 of equal weights" rose by 2.35% to reach the level of 2,663 points, and the "EGX100 index of equal weights" rose by 1.85% to reach the level of 3638 points, and the Excellence index increased by 2.66% to reach the level of 3188 points.

 

In a related context, the Egyptian Stock Exchange announced the suspension of trading on 19 shares for a period of 10 minutes, for exceeding 5%, up or down, during today's trading session, and they are; Construction and Engineering Consultation, Egyptian Building Industry Development (Lift Slab Egypt), Ajwaa Food Industries-Egypt, Arab Aluminum, Oden Financial Investments, Real Estate for National Development Banks, Mansoura Poultry, Delta for Construction and Development, Sharkia National Food Security, Misr National Steel-Ataqa, Arabia for Engineering Industries, Raya for Call Center Services, El Nasr Company for Civil Works, Al Gharbia Islamic for Urban Development, Cairo Poultry, Zahraa El Maadi for Investment and Development, Misr Cement - Qena, Alexandria Mills and Bakeries, Al Tawfiq for Financial Leasing - ATLIS.

 

 

In the same context, the transactions of the insiders, the main shareholders and the groups associated with them varied during a trading session yesterday, as the board of directors of Sharkia National Food Security Companies, Alexandria Mineral Oils, the Egyptian Real Estate Group, Porto Holding Group - Porto Group, Pioneers Tourism - Pioneers, Arab Rocks Industries Plastic 16.3 million shares, 1.3 million shares, 2.7 million shares, 21.6 million shares, 180.1 thousand shares, 1.1 million shares, respectively, and a group linked to development companies for real estate investment, navigation and petroleum services - Maridive, and pioneers of tourism - pioneers sold 130 thousand shares. , 25 thousand shares, 132.7 thousand shares, respectively, and a major shareholder in the Egyptian Real Estate Group sold 1.7 million shares.

 

While the Board of Directors of Gulf Canadian Arab Real Estate Investment Companies, Naeem Holding for Investments, and Sharm Dreams for Tourism Investment bought 3500 shares, 150 thousand shares, and 100 thousand shares, respectively, and a major shareholder in the Delta Construction and Development, Egyptian Tourist Resorts companies bought 109 thousand shares, 100 thousand Shares, respectively, and the group associated with the Architectural Engineering Industries for Reconstruction and Development-ICON bought 9 thousand shares.

 

In another context, Dr. Muhammad Omran, Chairman of the Financial Supervisory Authority, decided Resolution No. 1181 of 2021, regarding the prevention of voting in the General Assembly of the Real Estate Company for National Development Banks for a linked group whose shareholding is 41.15%, in violation of the provisions of Article 353 of the Executive Regulations of Capital Market Law No. 95 for the year 1992 with a percentage of shares exceeding one third of the company’s capital, amounting to 8.58%.

 

In a separate context, Connecticut Financial Holding Company announced its closure of the second issuance of sukuk issued by its subsidiary “Tharwa Sukuk Company” with a total value of 2.5 billion pounds, which are speculative sukuk compatible with the provisions and principles of Islamic Sharia, and the proceeds of the issuance will be used to finance the auto finance activity. The issuance is a single tranche with a total value of 2.5 billion pounds and a maximum term of 84 months starting from the day following the closing date of the subscription. Merris Middle East Credit Rating and Investors Service has given a credit rating of A-.

 

In the same regard, Sixth of October Development and Investment-SODIC announced the completion of the first issuance of securitization bonds through the issuance of securitization bonds worth 343 million pounds with a portfolio of notes receivable worth 384 million pounds, representing the value of future installments for 753 units delivered in the Eastown Residences project in East Cairo and Caesar project in the North Coast.

 

Meanwhile, Raya Call Center Services Company announced the approval of the Board of Directors to establish a company in the United States of America, with 100% ownership of Raya Call Center Services Company.

 

Remco for the construction of tourist villages also announced the approval of the board of directors of the evaluation result from the independent financial advisor - Alpha Capital Consulting Company for Securities, for Remco Real Estate Construction after an offer was made by a group of Egyptian persons to acquire the entire share of Remco Real Estate Construction Company, (owned by 99.87% for Remco for the construction of tourist villages in Amban for Tourism Investments, which amount to 99.98% of its ownership structure.

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