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EGX sets Arab Aluminum's stock limit down

EGX sets Arab Aluminum's stock limit down

ArabFinance: The Egyptian Exchange (EGX) has set the limit down of Arab Aluminum Company (AAC) (ALUM) at 15.862%, according to the company’s April 15th filing.

The circuit breaker of the company’s stock is also set at a limit down level of 11.188%, the EGX disclosure added.

The stocks’ price movement limits will be effective as of the closing session of the ex-dividend date on April 15th.

The EGX’s decision came after the company’s announcement of distributing cash dividends of EGP 1.50 per share on April 20th.

On a yearly basis, the company’s net profit rose 5% during the first nine months of 2020, recording EGP 7.728 million.  

AAC is an Egypt-based company that specializes in extruding aluminum profiles for architectural and industrial applications.

The company undertakes the activities of aluminum billet casting, dies, extrusion, alloys, painting, and anodizing.

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