Lecico Egypt and Talaat Moustafa Group: Egypt Equity Preview
The following companies may be active in Egypt’s stock market. Symbols are in parentheses and prices are from the last close.
The benchmark EGX 30 Index fell 0.8 percent to 5,580.96 in Cairo.
Lecico Egypt SAE (LCSW) (LCSW): The Alexandria, Egypt-based maker of sanitary ware and tiles will distribute one free share for every three held on July 7 to shareholders as of July 6. That will raise the company’s capital to 400 million Egyptian pounds ($67 million) from 300 million pounds. The shares retreated 0.2 percent to 15.02 pounds.
Talaat Moustafa Group (TMGH) Holding: A Cairo court is expected to rule today on a case against the government’s land sale to the country’s biggest publicly traded property developer for its Madinety project. The court delayed the ruling from last month to allow an advisory panel of judges to issue a recommendation. The shares lost 0.8 percent to 5.04 pounds.
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