Egypt’s corporate news: March 21
Alexandria National Iron & Steel –ANSDK (IRAX.CA) released 9-month FY2000 results ending September, in which net profit recorded LE15.1 million versus a loss of LE29.7 million in the comparable period of FY99.Moreover, net sales rose 9.7 percent to LE1.2 billion compared to LE1.1 billion in 1999.
Middle East for Paper –SIMO (SIMO.CA) will hold its ordinary general assembly on April 12 to elect the company’s board of directors. Egyptian Glass Company (EMGL.CA) has approved a cash dividend of LE12/share in addition to a 1:10 stock split. As a result, the number of shares will increase from 1.5 million to 15 million.
The Central Bank of Egypt announced the acceptable bids for its 182-day T-Bill auction, from which 58 out of 63 bids were accepted with a total face value of LE701.050 million. The annual interest rate ranged between 9.000 percent and 9.138 percent with an average of 9.126 percent.
Prime Securities S.A.E.
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