Egypt’s stock market starts trading on Sunday 11 June, investors should watch the following factors in the week ahead, with some companies holding their ordinary general meeting to discuss their financials for the first quarter (Q1) of 2017. The company’s board had earlier approved to raise the issued capital from EGP 2.8bn to EGP 2.9bn through distributing bonus shares worth EGP 76.6m. Golden Pyramids Plaza is set to hold its general meeting to discuss some judicial disputes, and additionally discussing suspending the trading of the stock. The company’s consolidated a net profit for fiscal year (FY) 2016 reached EGP 560.15m, against losses worth EGP 603.3m for FY15. Expenses decreased in FY 2016 to EGP 797m from EGP 1.76bn in FY 2015, according to a bourse filing.

Source: Daily News Egypt June 11, 2017 06:45 UTC