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Monday, 18 April 2022

AMOC’s bottom line rose 638% y-o-y + Al Baraka Bank Egypt will issue bonus shares worth EGP 2.12 bn

MARKET NEWS-

Alexandria Mineral Oils Company’s (AMOC) bottom line rose 638% y-o-y to EGP 761.98 mn in the first nine months of FY2021-2022, according to an EGX disclosure (pdf) . This came on the back of a 73% y-o-y increase in sales to EGP 12.26 bn.

Al Baraka Bank Egypt will increase its issued capital to EGP 5.09 bn by issuing bonus shares worth EGP 2.12 bn, representing over 71% of the bank’s capital, according to an EGX disclosure (pdf). The bonus shares will be distributed at a rate of 0.714 per existing share.

MARKET ROUNDUP-

The EGX30 rose 0.2% at today’s close on turnover of EGP 601.34 mn (36% below the 90-day average). Foreign investors were net sellers. The index is down 10.3% YTD.

In the green: AMOC (+8.8%), Sidi Kerir Petrochemicals (+5.3%) and Credit Agricole (+4.4%).

In the red: EFG Hermes (-4.5%), Housing and Development Bank (-4.4%) and CIRA (-2.6%).

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