Cairo – Mubasher: The Egyptian Exchange (EGX) has suspended trading on the stocks of Ajwa Group for Food Industries and South Valley Cement Co starting from Tuesday’s trading session.

Suspension of trading on the stock of Ajwa Group for Food Industries becomes effective as of 16 April until receiving all decisions of the board of directors, the EGX said in a statement on Tuesday.

It is worth noting that Ajwa Group for Food Industries reported a 533.8% year-on-year increase in consolidated net losses to EGP 30.11 million in 2018, compared to EGP 4.75 million in the prior year.

In addition, the stock of South Valley Cement Co was suspended as of Tuesday until the company responds to the EGX’s inquiries concerning its recent statement.

During the first nine months of 2018, South Valley Cement Co’s losses amounted to EGP 16.88 million, against a profit of EGP 91.06 in the year-ago period.