[ad_1]
The Egyptian Exchange (EGX) news was distributed during the trading session on Wednesday 31/10/2018, the most important being the request of Orascom Investment Holding to the Egyptian Financial Supervisory Authority (EGX). EFSA) for its authorization to make an optional offer for a non-controlling interest in Tharwa Capital Holding.
Orascom Investment Holding has asked the Egyptian Financial Supervisory Authority (EFSA) for permission to submit an offer to purchase a minority stake in Tharwa Capital Holding.
Orascom said in its letter to the stock market on Wednesday that the offer included either the acquisition of 216 million shares of Tharwa Capital at a price equivalent to the stock price of 7.36 pounds, ie Stock acquisition from 144 million to less than 216 million shares of Tharwa Capital. At 6.62 pounds per share, less than 10% of the stock price.
Orascom added that the offeror had the right to accept or refuse the purchase of the shares offered if the number of shares had risen to less than 144 million euros. shares for the offer of purchase, and we hope to obtain the approval of the Financial Supervisory Authority to submit the offer and continue the necessary legal proceedings.
In this context, EGX has decided to resume trading on Tharwa Capital Holding, Orascom Holding Investment, after the announcement of the offer letter.
Orascom Investment Holding, its largest shareholder is businessman Naguib Sawiris, while Tharwa Capital is headed by Hazem Moussa, son of Amr Moussa, former secretary general of the League of Arab States.
A number of companies listed on the Egyptian Stock Exchange (EGX) reported their results during Wednesday's trading session for the nine-month period ended September 2018.
Egyptian satellite company NileSat has announced a revenue decline of $ 109.3 million, compared to $ 118.03 million for the same period last year.
The company posted earnings of $ 41.5 million between January and September, compared to $ 52.2 million for the same period of 2017, a year – on – year decline of 20.4%. other because of declining revenues.
Sidi Kerir Petrochemical Company achieved an increase in its sales of 4.2 billion lire during the period, compared with 3.3 billion lire in the corresponding period last year, realizing a profit of 922 million lira against a profit of 703 million pounds for the corresponding period, a growth of 31%. Year-over-year, a result of growth in production and sales.
The company attributed the increase in profits to the increase in production and sales quantities resulting from maintenance plans and work done in its factories in previous years, as well as from rising prices of selling means during the period.
Sales of Edita Food Industries increased to reach EGP 2.6 billion, compared with EGP 2.08 billion for the corresponding period of the previous fiscal year, realizing a profit of LE 200.4 million, against a profit of 129 million pounds for the corresponding period of 2017, representing 55% growth year-over-year due to sales growth.
The Egyptian Stock Exchange ended the trading session on Wednesday, marking a collective rise in all indicators driven by the purchase of foreign brokers, and the capital market grew by 4 billion pounds to 751.581 billion. books.
Equity trading volume amounted to 239 million shares valued at 1.3 billion pounds. 26 181 transactions were executed for 181 companies. Transactions made by Egyptians accounted for 56.73% of total transactions, non-Arab foreigners 32.5% and Arabs 10.77%. And the institutions made 49.29% of stock market transactions and the rest of the transactions for individuals at 50.70%.
The net transactions of Arab individuals and Egyptian and Arab institutions for sale amounted respectively to 23.9 million, 39.7 million and 14.8 million EGP, and 35.7 million, 39.1 million and 39 million, respectively. EGP 6 million for Egyptian, foreign and foreign companies.
The EGX30 index rose 0.73% to close at 13250 points, while the EGX 50 index rose 0.71% to close at 2105 points and as the EGX20 index jumped from 0.48% to 12744 points.
The benchmark EGX70 rose 2.17% to 695 points, while the EGX 100 widened index rose 1.80% to close at 1739 points and that the Nile Index increased 0.05% to 471 points.
The shares of 87 listed companies closed at market close, 49 companies collapsed and 45 companies remained unchanged.
Note: The content of this news was written on the seventh day and does not express the point of view of Egypt today, but was transferred as is from the seventh day. We are not responsible for the content of the news and the custody of the previous source.
[ad_2]
Source link
