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EGX sets Telecom Egypt's stock limit down

EGX sets Telecom Egypt's stock limit down

ArabFinance: The Egyptian Exchange (EGX) has set the limit down of  Telecom Egypt (ETEL) at 15.725%, according to the EGX’s April 26th disclosure.

The circuit breaker of the company’s stock is also set at a limit down level of 11.043%, the EGX disclosure added.

The stocks’ price movement limits will be effective as of the closing session of the ex-dividend date on April 25th.

The EGX’s decision came after the company’s announcement of distributing cash dividends of EGP 0.750 per share on April 28th.

The telecom provider signed a cooperation protocol with MARAKEZ for Real Estate Investment to provide integrated communication services and connect telecommunications networks to all its projects with the highest internet speed.

Telecom Egypt is an Egypt-based joint-stock company, which is engaged in the provision of public communications and associated products and services.

The company operates under the following segments: communications, marine cables, and infrastructure; internet services, as well as outsourcing services. It offers a range of fixed-line and retail telecommunications services, as well as wholesale telecommunications services.

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