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Raya Holding suffered consolidated net losses of EGP 45.68 million in 2020
13 April 12:43 PM Raya Holding not to distribute dividends for 2020
Cairo – Mubasher: The ordinary general meeting (OGM) of Raya Holding for Financial Investments decided to cancel dividends for 2020, according to a bourse disclosure on Tuesday. During 2020, Raya Holding suffered consolidated net losses of EGP …
About 752,400 shares were exchanged at a turnover EGP 40.13 million
13 April 12:39 PM CIB's stock hits lowest level in 28 months early Tuesday
By: Heba El-Kordy Cairo – Mubasher: The Commercial International Bank-Egypt (CIB) saw its stock plunge sharply to its lowest level in 28 months. By 11:00 a.m., the heavyweight stock declined by 2.1% to EGP 54.06, its lowest level since December …
The transaction is valued at AED 573 million
13 April 12:04 PM Agthia expects to complete AED 573m acquisition of Atyab in July - CFO
Abu Dhabi – Mubasher: The UAE-based Agthia Group expects to receive the necessary regulatory approvals to complete the acquisition of a 75.02% stake in the Egypt-based Ismailia Investments (Atyab) during June or July, the Group's Chief Finance …
The group is currently negotiating the terms of the letter of intent with CI Capital
13 April 11:38 AM Cleopatra Hospitals Group intends to acquire 51.5% of Alexandria New Medical Center
Cairo – Mubasher: Cleopatra Hospitals Group (CHG) announced its intention to acquire Abu Dhabi Commercial Bank’s (ADCB) 51.5% stake in Alexandria Medical Services - Alexandria New Medical Center. The group submitted an initial non-binding letter …
The deal will raise the bank’s market share to 4-5%
13 April 11:20 AM FAB expects to complete acquisition of Bank Audi Egypt by 2021-end
By: Abdullah Bedeir Cairo – Mubasher: First Abu Dhabi Bank (FAB) is expected to complete its acquisition of Bank Audi Egypt before the end of 2021, pending the approval of the Central Bank of Egypt (CBE), FAB Egypt’s CEO Mohamed Fayed said. On the …
Communications services will be provided through FTTH technology
12 April 05:02 PM Telecom Egypt inks protocol of cooperation with Ora Developers
Cairo – Mubasher: Telecom Egypt signed a protocol of cooperation with Ora Developers to provide integrated communications services to the latter’s real estate projects. Under the protocol, the telecom operator will extend its network and provide …
The revenues increased to EGP 689.239 million
12 April 03:43 PM Suez Canal Technology's profit grows 26% in six months
Cairo – Mubasher: Suez Canal Company for Technology Settling reported net profits of EGP 389.99 million in the first half (H1) of the company’s fiscal year, up by 26.39% year-on-year (YoY) from EGP 308.549 million, including minority shareholders’ …
The public offering was oversubscribed by 29.38 times
12 April 12:40 PM StonePine announces listing of Taaleem's shares at EGP 4.2bn
Cairo – Mubasher: StonePine ACE Partners announced that its portfolio company Taaleem Management Services listed its shares on the Egyptian Exchange (EGX) at a valuation of EGP 4.2 billion ($267 million), which represents a doubling in …
Speed Labs will manage the labs under a revenue sharing system
12 April 11:53 AM Speed Medical inks deal to manage Alex Scan labs in Alexandria
Cairo – Mubasher: Speed Medical Company signed a contract to manage the three branches of Alex Scan Laboratories in Alexandria. Speed Labs will manage the labs under a revenue sharing system with 70% of cash clients and 80% of contract clients and …
The value of sales fell by 9% to EGP 7.1 billion
12 April 11:22 AM AMOC turns profitable in 9M initial results
Cairo – Mubasher: Alexandria Mineral Oils Co (AMOC) turned to net profits of EGP 103.31 million during the first nine months of fiscal year 2020/2021, against net losses of EGP 152.48 million in the year-ago period, the unaudited financial results …
Net interest, fee, and commission income retreated to EGP 4.06 billion
11 April 05:44 PM QNB Al Ahli reports 5% higher profit in Q1-21
Cairo – Mubasher: Qatar National Bank Al Ahli (QNB Al Ahli) achieved net profits of EGP 1.96 billion during the first quarter (Q1) of 2021, up by 5.18% year-on-year (YoY) from EGP 1.87 billion in the corresponding period a year earlier, including …
The e-payment firm will increase its issued capital by EGP 400 million
11 April 05:30 PM EGX approves Fawry's rights issue
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the rights issue of Fawry for Banking Technology and Electronic Payments for 800 million shares to be traded separately from the original stock. The e-payment firm will …
These plans are in line with the company’s strategic approach in the coming period
11 April 04:23 PM Egytrans considers foreign expansion, addition of new activities
Cairo – Mubasher: The Egyptian Transport and Commercial Services Co (Egytrans) is currently studying foreign expansion in the transportation sector, addition of new activities, and monitoring the Libyan and Sudanese markets. These plans, which are …
The NBE will contribute 44.5% to the funding
11 April 03:47 PM SCZone inks EGP 10bn syndicated loan agreement with six banks
Cairo – Mubasher: The Chairman of Suez Canal Economic Zone (SCZone), Yehia Zaki, signed a long-term syndicated loan agreement with a consortium led by the National Bank of Egypt (NBE) as the senior mandated lead arranger, facility agent, and …
The sales increased to EGP 422.08 million
11 April 02:15 PM Arab Drug's pre-tax profit rises 10% in nine months
Cairo – Mubasher: Arab Drug Company reported a 10.12% year-on-year (YoY) growth in its pre-tax net profits, logging EGP 103.39 million during the first nine months of fiscal year 2020/2021, compared to EGP 93.88 million, the unaudited financial …
The company logged net profits of EGP 88.26 million in 2020
11 April 01:56 PM October Pharma's shareholders approve dividends, delay bonus issue
Cairo – Mubasher: The ordinary general meeting (OGM) of October Pharma approved a cash dividend of 30% of the capital or EGP 3 per share for 2020. The shareholders also decided to postpone the issuance of bonus shares for further consideration, …
The company reported net profits of EGP 36.48 million in 2020
11 April 01:38 PM Raya Contact Center's board approves capital cut via treasury stock cancellation
Cairo – Mubasher: The board of directors of Raya Contact Center approved the commencement of procedures to cancel some of its treasury stocks. A total of 4.272 million treasury stocks will be cancelled by reducing capital by EGP 2.14 …
An offer has been submitted to CI Capital to start the negotiation process
11 April 01:18 PM Speed Medical's unit inks alliance deal to acquire Alexandria New Medical Center
Cairo – Mubasher: Speed Medical Company announced that its 80.25%-owned subsidiary Speed Hospitals signed an alliance agreement with medical investment-specialised LimeVest Fund and Tawasol, a subsidiary of the Saudi Elaj Group, for the …
The transaction will reduce GB Auto’s indirect stake in the Dutch firm to 57.26%
11 April 12:52 PM GB Auto's unit to cut stake in MNT Investments for EGP 353m
Cairo – Mubasher: Ghabbour Auto (GB Auto) announced that one of its subsidiaries signed an agreement with foreign investment funds to start procedures for selling part of its stake in MNT Investments BV, representing 5% of the company’s shares. …
Beltone will create opportunities for the entry of new shareholders
11 April 11:20 AM Beltone announces future development plan
Cairo – Mubasher: Beltone Financial Holding announced its future development plan proposed by the board of directors.  The company will rely on diversified financing and strategic support to create opportunities for the entry of new shareholders …
The allocated stake will be in favour of Retail Group Egypt
11 April 10:59 AM Alhokair allocates ECRED’s equity in return for EGP 355m receivables
Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Co.’s board gave the green light to allocate 8.9% of the affiliate Egyptian Centres for Real Estate Development (ECRED) in exchange for EGP 354.72 million (SAR 84.4 million) worth of outstanding …
The remaining amount of the proceeds stands at EGP 51.76 million
8 April 05:23 PM CI Capital uses EGP 970m of capital raise proceeds
Cairo – Mubasher: CI Capital Holding For Financial Investments spent EGP 970.21 million of the capital raise subscription proceeds amounting to EGP 1.022 billion.   A total of EGP 120 million has been allocated for a loan used to partly finance …
The transaction involved the sale of 2.29 million shares
8 April 04:44 PM Suez Canal Bank cuts stake in Mohandes Insurance for EGP 33m
Cairo – Mubasher: Suez Canal Bank reduced its stake in Mohandes Insurance to 0.00007% from 3.06%. The transaction involved the sale of 2.29 million shares for EGP 33.33 million, averaging EGP 14.55 per share, according to a statement to the …
The company incurred net losses of EGP 29.8 million in 2020
8 April 12:37 PM CIB agrees to reschedule loans of Sharm Dreams
Cairo – Mubasher: The Commercial International Bank-Egypt (CIB) approved in principle to reschedule loans and cut interest payments of Sharm Dreams Company for Touristic Investment.   The company requested an urgent funding of EGP 140 million for …
Shareholders approved distributing 0.04 bonus share for every share held
8 April 11:47 AM MNHD's shareholders approve dividends, bonus issue for 2020
Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) announced that its ordinary general meeting (OGM) approved a proposal to distribute a cash dividend of EGP 0.45 per share for 2020.  Dividends will be paid in instalments over the …