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EGX decides to limit down Saudi Egyptian Investment's share price

EGX decides to limit down Saudi Egyptian Investment's share price

ArabFinance: Egyptian Stock Exchange (EGX) decided to limit down the share price of Saudi Egyptian Investment & Finance (SEIG) (SEIGA) 17.16% for Egyptian pound issuance (23.64% dollar issuance), while the temporary halt limit will be about 12.56% (19.40% for dollar issuance) of the closing price ending ِthe April-21 session because the cash dividends value is higher than the halting limits.

EGX's price movement will start from the first trading session of the stock without the right issue until the end of the session that records a new closing price.

The Company declared a cash dividend of EGP 2.5 per share payable on April 24, 2019, moreover, the shareholders as on April 21, 2019, are entitled to cash dividends distribution.

Under EGX's chairman resolution, No. 301 of 2017, regarding the cash dividends' impact on the market price of the stock, stipulating that the interim halt limit and price limits will be calculated on the theoretical price, the last closing price minus the distribution value. Price limits and temporary halt limit up will be kept unchanged, as the distribution value is greater than the applied price limit.

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