Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    SCZONE showcases investment opportunities to eight Japanese companies    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Emaar Egypt shares decline to EGP 3.71 per share
The shares declined amid active trading exceeding 77m shares, at a total value of more than EGP 303.9m
Shaimaa Elise Published in Daily News Egypt on 06 - 07 - 2015

Emaar Egypt's shares were traded at EGP 3.71 per share, lower than the price of their initial public offering (IPO), on the second day of Egyptian Stock Exchange (EGX) trading.
Trading on the construction company declined at the end of trade on Sunday, giving up its gains in the morning session to fall by 2.4% to EGP 3.71 per share.
Emaar Egypt shares dropped by 7.87% during the first hours of trading on the second EGX session to reach EGP 3.63, compared to the end of yesterday's session at EGP 3.94.
The shares declined amid active trading exceeding 77m shares, at a total value of more than EGP 303.9m, and through more than 6,927 transactions.
According to market data, leading shares significantly dropped during the day, which negatively affected the performance of the market. The decline in the main stock index EGX-30 declined by 4.23%.
The EGX-70 index encompassing small- and medium-sized enterprises declined by 3.08%, while the broader index EGX-100 declined by 2.81%.
The market capitalisation of listed shares in the stock market lost about EGP 11.95bn during Monday trading, driven by sales transactions by both foreign and Arab investors, while Egyptians transactions tended towards purchasing.
In February, the EGX announced that Emaar Egypt formally requested listing its shares on the stock market. The company offered 600m shares, around 13% of the company's capital, with the total value of EGP 2.3bn.
Approximately 85% of the shares were offered publicly, whilst the remaining 15% were offered to institutions at EGP 3.8 per share. The firm's current issued capital was evaluated at EGP 4.019bn, and with the increase it is set to reach EGP 4.619bn
Emaar Egypt identifies itself as "the largest foreign direct investor in Egypt's real estate sector, with an investment portfolio of EGP 53bn". The company's land portfolio is about 15.4m sqm, with four projects that include Uptown Cairo, Marassi, Mivida, and Cairo Gate.

Clic here to read the story from its source.