Egypt Telecom generates EP1.75 billion revenues
The Egyptian Telecom Company reported a 1.75 billion Egyptian pounds (EP) net operating income in the 2000 fiscal year. This figure represents a relative rise compared to the EP 1.52 billion achieved during the 1999 fiscal year. Moreover, the company’s overall revenues totaled EP 5.5 billion during this fiscal year, which ended in June 2000.
According to Al-Sharq Al-Awsat, the chairman of the board of the Egyptian Telecom Company, Aqil Basheer, announced that the company will offer 20 percent of its stakes for public subscription as of October 30. The subscription to the company’s stocks will be possible for two weeks. The per-stock value, however, will be determined only two days before the subscription. — (Albawaba-MEBG)