When Egypt’s stock market starts trading on 16 July, most investors should be watching the following factors in the week ahead, with some companies discussing dividends, while others will hold its ordinary general meeting to discuss its finances for the second quarter (Q2) of 2017.
Beltone Financial Holding’s shareholders will meet on Sunday to discuss some contracts and its lawsuit against the Egyptian Exchange (EGX).
The Administrative Court has referred the lawsuit filed by Beltone Financial Holding against the Egyptian Exchange (EGX) and the Egyptian Financial Supervisory Authority (EFSA) to the State Commissioner’s body at 5 July.
Last year, Beltone filed two lawsuits against the EGX and the EFSA because of the repetitive trade suspension of the company’s stock.
Meanwhile, Al Shams Housing and Urbanization’s board of directors will discuss cancelling contracts with Nasr Company for Civil Works to build 26 buildings in October City.
The company said in June that it mulls over an EGP 1bn partnership project with the New Urban Communities Authority (NUCA), according to a bourse filing.
The board will also discuss the company’s financials for the first quarter of 2017.
Profits for fiscal 2016 increased 49.73% to EGP 69.64m from EGP 46.51m for fiscal year (FY) 2015, according to a bourse filing.
Arab Aluminium coupon no. 1 will be distributed at EGP 1 per share to shareholders in 19 June.
The company ordinary general meeting (OGM) has agreed on a proposal to distribute cash dividends of EGP 1 per share for FY 2016, totalling EGP 5.65m.+
The OGM also adopted on March 23 the financial statements for the year ended on 31 December 2016.
Arab Aluminum reported an increase of 726% in net profits for the nine-month period that ended September 2016.
The company posted net profits of EGP 4.15m for the first nine months of 2016, up from EGP 502,000 a year earlier.
Ajwaa will hold its ordinary meeting to discuss its finances for Q2 2017.
Ajwaa Group for Food Industries consolidated profits for Q1 of FY 2017, which increased 60% to EGP 5.28m, versus EGP 3.29m for Q1 of FY 2016.
Sales increased in Q1 2017 by 52.4% to EGP 813.9m from EGP 534.06m for Q1 2016.
Zahraa Maadi Investment and Development’s record date for its bonus shares is 19 July.
The company will distribute an extra share for every five ones, as of 20 July via Misr for Central Clearing, Depository, and Registry Company, according to a bourse filing.
