Factors to watch in Egypt’s stock market in week ahead

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 first company to watch is the Egyptian Chemical Industries Company (Kima), who will hold their general meeting (EGM) on June 12th to discuss raising the capital to EGP 2.9bn through distribution of bonus shares.

The EGM will also look into amending Article 6 of the company’s statute.

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 Egyptian exchange decided to suspend trading on the stock effective June 4th of this year, until the company sends its financial statements consolidated for the financial year that ended last December.