Nov 27, 2016 - Corporate News .... Stock dividend 1:5 stock dividend distribution (Dis. ... Stock Market Broker, regulat
THE MORNING BULLETIN
JAZIRA SECURITIES BROKERAGE
Sunday, November 27, 2016
Corporate News
General News
South Cairo Mills posts EGP1.157 mn profits in October
Egypt seeks floating stakes in public utility companies
South Cairo and Giza Flour Mills and Bakeries (SMFC.CA) reported net profits of EGP1.157 million for October 2016, up from EGP59,000 for the same period a year earlier. The company reported earlier, net profits of EGP6.1 million for 1Q FY17 compared with EGP239,000 for the similar period of the previous year. (EGX)
Egypt government seeks to divest partially from number of state-owned enterprises and banks, said Minister of International Cooperation Sahar Nasr. The government also targets floating stakes in public utility companies, which have historically been excluded from divesture as a strategic sector, noted Nasr. The government realizes that the country’s future is correlated with supporting the citizens and entrepreneurs economic prospects, without state – aggressive intervention, added Nasr. (Reuters)
Heliopolis Housing says evacuation of Maryland Casino Heliopolis Housing (HELI.CA) said the court rule of evacuating Maryland Casino was postponed. The evacuation was scheduled to take place on 24 November. Last September, Magic Dreams Co., the current tenant of the casino, has challenged the evacuation that was scheduled to take place in 29 May 2016. (Mubasher)
KABO suffers EGP983,600 losses in 3Q FY16
El Nasr Clothing and Textiles (KABO.CA) posted net losses of EGP983,600 for the third quarter of 2016 compared with EGP917,400 for the same period of the previous year. The company reported as well revenues of EGP42.07 million for 3Q FY16, up from EGP39.79 million for the comparable period of the preceding year. (Mist News)
TVM Healthcare to resume buying Ameco Medical's shrs TVM Healthcare Acquisition III Limited Company said it was seeking to continue purchasing the rest of Ameco Medical Industries' s (AMES.CA) hares between 27 November and 1 December, the Egyptian ExchangeEGX. In September, TVM Healthcare Acquisition III Limited executed a buy offer of 131,892 shares, at EGP19.5 per share and at a total value of EGP2.57 million. TVM Healthcare currently holds 94.89% of Ameco’s shares, after raising its stake from 36.9% in June. (Mubasher)
Returns on Egyptian T-bills rise Thursday Returns on the Egyptian government’s treasury bills went up on Thursday’ auction, according to date released by the Ministry of Finance-MoF. The average return on the 182-day bills increased to 18.258% from 17.716% in last week’s auction. On the other hand, the return on the 364day bills also grew to 18.034% from 17.606. On 3 November, the Central Bank of Egypt-CBE decided to float the Egyptian pound and to raise interest rates by 300 basis points. The central bank of Egypt-CBE announced earlier it is targeting to issue EGP9.25 billion worth of treasury bills on Thursday. (CBE)
Solid Capital establishes investment bank in Egypt Solid Capital Group, which its head office is in the Netherlands, announced it finalized establishment of the investment bank in Egypt, according to the Egyptian law 95 for 1992, after obtaining the Egyptian Financial Supervisory Authority’s-EFSA approval. Solid aims to make Egypt as its regional center to offer investment bank services to the Gulf region and Africa. Solid Capital-Egypt targets to open branches in the Arabian Gulf as well as Africa. (Mubasher)
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THE MORNING BULLETIN
JAZIRA SECURITIES BROKERAGE
GDRs (Previous day close)
US$
% Change
COMIq.L
4.28
▲0.1
ETELq.L
2.51
-
HRHOq.L
2.11
▼0.2
OTMTq.L
0.38
-
Sunday, November 27, 2016
Money Market (latest available)
Rate
Inflation Rate (Oct. 2016)
15.72%
Overnight deposit Rate
14.75%
Overnight lending Rate
15.75%
182 TB
18.258%
364 TB
18.034%
Overnight Interbank
11.82%
Corporate Calendar Company
RIC
Date
Event
Details
Eastern Tobacco
EAST
1/11/2016 (Rec. date)
Cash dividend
EGP12.0/share (Dis. 6/11/2016)
Faisal Islamic Bank
FAIT
2/11/2016 (Rec. date)
Stock dividend
1:5 stock dividend distribution (Dis. 3/11/2016)
North Cairo Mills
MILS
10/11/2016 (Rec. date)
Cash dividend
EGP1.0/share (Dis. 15/11/2016)
Naeam Holding
NAHO
10/11/2016
EGM
Alex Flour Mills
AFMC
13/11/2016 (Rec. date)
Cash dividend
EGP1.7/share (Dis. 16/11/2016)
Galxo SmithKline
BIOC
14/11/2016 (Rec. date)
Cash dividend
EGP5.0/share (Dis. 17/11/2016)
Media Production City
MPRC
17/11/2016
AGM
Approve FY15 ending Dec. 2015 financial results &approve the distribution of 1:50 proposal stock dividend
Golden Tex
GTWL
30/11/2016 (Dis. date)
Cash dividend
EGP0.2499/share second Installment (Rec. was 26/9/2016)
Abu Kier Fertilizers
ABUK
22/12/2016 (Dis. date)
Cash dividend
EGP6.95/share 17/10/2016)
Mohandas Insurance
MOIN
15/2/2017 (Dis. date)
Cash dividend
EGP1.5/share 31/10/2016)
Consider registering a stake on Abu Dhabi Securities Exchange (ADX)
second
second
Installment
(Rec.
was
Installment
(Rec.
was
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THE MORNING BULLETIN
JAZIRA SECURITIES BROKERAGE
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Sunday, November 27, 2016
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