Egypt’s corporate news: March 14
Alexandria Spinning & Weaving -Spinalex (SPIN.CA) released its FY00 results ending December in which NAI slipped 4.2 percent to record LE16.9 million compared to LE17.6 in the comparable period last year. However, revenues jumped 7.2 percent to LE150 million versus LE139.9 million in FY99, while COGS/Revenue increased to 83.6 percent in comparison to 82.2 percent in FY99. Spinalex will hold its ordinary general assembly on March 29, to approve its FY00 financial statements and the suggested coupon of LE1.33/share.
Egyptian Iron & Steel (IRON.CA) will hold its ordinary general assembly on March 29 to approve its estimated budget for FY2001. Nile Matches & Prefabricated Houses (NMPH.CA) will distribute a cash dividend (coupon #5) of LE1.25/share starting March 15,2001.
United Housing & Development (UNIT.CA) will hold its ordinary general assembly on March 28 to approve its FY00 financial statements. Savola Sime (SASA.CA) will hold its ordinary general assembly on March 28 to approve its FY00 financial statements.
he Central Bank of Egypt announced the acceptable bids for its 182-day T-Bill auction, from which 59 out of 71 bids were accepted with a total face value of LE702.075 million. The annual interest rate ranged between 9.000 percent and 9.138 percent with an average of 9.125 percent.
Prime Securities S.A.E.
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