EGX sets Incolease's stock limit down

Updated 12/10/2020 4:00:00 PM

ArabFinance: The Egyptian Exchange (EGX) has set the limit down of International Company for Leasing (Incolease) at 16.084%, according to the company’s December 10th filing.

The circuit breaker of the company’s stock is also set at a limit down level of 11.422%, the EGX disclosure added.

The EGX’s decision came after the company’s announcement of distributing cash dividends of EGP 2.5 per share on December 15th.

Incolease reported a net profit after tax stood at EGP 60,651,812 in the January-September period of 2020, a 25% decline from EGP 81,134,311 achieved in the prior-year period.

Incolease is an Egypt-based company engaged in the provision of customer service and personalized financial solutions.

The company leases a range of assets, including commercial vehicles, machinery, information technology equipment, production lines, real estate, and others tangible and intangible long-term assets.