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Egyptian Financial Supervisory Authority (EFSA) sent a release to EGX stating that it approved Tourism Urbanization - (TOUR) to call for the existing shareholders to subscribe in the company’s issued capital increase from LE 45.640 million to LE 55.640 million amounting to LE 10 million, through the issuance of 1 million shares at a nominal
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Benchmark index EGX30 closed in the red, shedding 1.31%, or 65.01 points to reach 4890.3 pts.
Likewise, EGX70 dipped 1.52%, or 6.5 pts to 419.86 pts. The broader EGX100 ended 0.89%, or 6.93 pts lower at 771.1 pts.
Traded value neared EGP 373.363 million, generated from 22.354 thousand transactions executed on 92.16 million shares.
Foreign
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Egyptian Satellites (NileSat) - (EGSA) declared cash dividends of $ 0.40 per share payable on 03/06/2012.
Shareholders as of 29/05/2012 are entitled to cash dividends distribution.
Source: EGX + Arab Finance
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Medinet Nasr Housing - (MNHD) reported standalone financial results posting a net profit of LE 21,479,823 for the period from 01/01/2012 till 31/03/2012.
Noting that, it posted net loss of LE 7,207,741 for the same period of the previous year.
Source: EGX + Arab Finance
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Rakta Paper Manufacturing - (RAKT) BOD approved financial results for April 2012 with net loss of LE 18,576,619.
Source: EGX + Arab Finance
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Maridive & Oil Services Co. stated today that it is negotiating with a bank operating in the UAE to obtain $30 million loan facility.
This facility, which will be repaid over the next two or three years, will be used in preparing Maridive's 168.000-sq m unit in Abu Dhabi.
Source: Mubasher
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Some officials at the Egyptian Exchange (EGX) met today, Thursday, May 17th, with several businessmen and investors in Sohag. The meeting was aimed at raising awareness about benefits of listing on Nile Stock Exchange (NILEX).
Source: Mubasher
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CI Capital fixed the price estimate of the Egyptian Financial and Industrial Co. (EFIC) at EGP 14.3; which represents 34% upside potential to the stock's market value of EGP 10.67. The stock was also rated 'Strong Buy'.
The EGX-listed company had posted EGP 5.4 million earnings for Q1, missing CI Capital and consensus' forecasts of EGP 16 milli
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The board of Remco for Touristic Villages Construction invited shareholders to attend the ordinary and extraordinary general meetings on June 26, 2012.
The ordinary meeting will look into endorsing the board and auditor's reports as well as financial statements and final accounts for FY11.
Board members will be discharged from liability for
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CI Capital Research (CICR) defined the target price of Raya Holding for Technology & Telecommunications at EGP 7.7, representing 45% upside potential to its current market price of EGP 5.3. It also placed a Buy recommendation on the stock.
Although Raya delivered weak performance during Q1-11 – which coincided with the Jan 25 Revoluti
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Orascom Construction Industries (OCIC), Egypt’s biggest publicly traded builder, gained for the first time in four days after shareholders voted to split the company.
The shares of the Cairo-based company advanced 2 percent to 279.11 Egyptian pounds at 11:50 a.m. in Cairo, valuing the company at 57.8 billion pounds ($9.6 billion). That br
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El Kahera Housing - (ELKA) reported standalone financial results posting a net profit of LE 39,615,148 for the period from 01/01/2012 till 31/03/2012.
Noting that, it posted net loss of LE 4,683,448 for the same period of the previous year.
Source: EGX + Arab Finance
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CI Capital issued a report on Maridive & Oil Services (MOS), defining the stock’s target price at $1.28; representing 4% upside potential to its current market price of $1.23. It also assigned an Underweight rating to the stock.
The company’s revenue fell 12% year-over-year to $95.6 million. CI Capital had expected lower revenue
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Benchmark index EGX30 has inched down as much as 0.44%, or 21.84 points to reach 4933.47 pts in today’s early trading.
A total of 2.293 million shares changed hands through 765 transactions, at an overall value of EGP 10.821 million.
CIB fell 1.89% to EGP 25.4, followed by Orascom Telecom 0.92% (EGP 3.22).
El Nasr Agricultural Crops w
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Kafr El Zayat Pesticides (KZPC) declared cash dividends of LE 2.25 per share payable on 28/05/2012.
Shareholders as of 23/05/2012 are entitled to cash dividends distribution.
Source: EGX + Arab Finance
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