Today’s Top News & Analysis
Second phase in NAC to start by Q3 2024 max
ETRS to establish a limited company in KSA
MACRO
Second phase in NAC to start by Q3 2024 max
The Administrative Capital for Urban Development (ACUD) to start the second phase of the new administrative capital (NAC) by Q3 2024 maximum. The first phase of the project cost EGP300bn, however, it is expected that the second phase will cost more due to higher costs. (Enterprise)
CORPORATE
ETRS to establish a limited company in KSA
Egytrans [ETRS] BoD approved establishing a limited company in partnership with the Saudi-based Linked Investments, both companies will have equal stakes, 50% each. The new company will be worth SAR10mn with an initial capital of SAR500,000 and is expected to be established through Q1 2024. (Company disclosure)
MARKETS PERFORMANCE
Key Dates
18-Dec-23
CSAG: Cash dividend / Deadline for eligibility for a dividend of EGP1.39/Share.
19-Dec-23
CIRA: OGM / Approving financial statements ending 31 August 2023 and the proposed dividends.
20-Dec-23
MCQE: Cash dividend / Payment date for a dividend of EGP0.50/share (2nd installment).
21-Dec-23
CSAG: Cash dividend / Payment date for a dividend of EGP1.39/share.
EAST: OGM / A board reconstitution.
EAST: EGM / Amending Articles No. 7 & 21 of the company's bylaws.
MPC Meeting / Determining the CBE's policy rate.
26-Dec-23
ELEC: EGM / Discussing capital reduction & amending Articles No. 6 & 7 of the company's bylaws.
ACGC: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
27-Dec-23
EHDR: EGM / Approving increasing the issued capital & amending ArticleS No. 6 & 7 of the company's bylaws.
28-Dec-23
ABUK: Cash dividend / Payment date for a dividend of EGP3.00/share (2nd installment).
EAST: Cash dividend / Payment date for a dividend of EGP1.75/share (2nd installment).