ArabFinance: The Egyptian Exchange (EGX) has set the limit down of Pyramisa Hotels and Resorts (PHTV) at 17.073%.
The circuit breaker of the company’s stock is also set at a limit down level of 12.466%, the EGX disclosure added.
The stocks’ price movement limits will be effective as of the closing session of the ex-dividend date on June 8th.
The EGX’s decision came after the company’s announcement of distributing cash dividends of EGP 2 per share.
Earlier, Pyramisa Hotels decided to suspend its investment plan for 2020, as a result of coronavirus (COVID-19) repercussion on its business and the expected revenues.
Pyramisa Hotels is an Egypt-based company engaged in tourism and hotel development and investment. The company, along with its subsidiaries, is primarily involved in the ownership, establishment, sale, rent, and management of hotels; the provision of travel, entertainment, therapeutic and sports facilities, and offering technical advises and economic feasibility studies for tourism development.
