The EGX30 concluded the session in negative territory, with the index closing in the red, down by 6.01% or 1,562 points.
Beltone Holding's Subsidiary Launches USD 100 Million Private Credit Platform for Egyptian Export Market
Beltone Holding disclosed today, April 30, 2024, that its subsidiary, BIH (Beltone Investment Holding), is rolling out a USD 100 million private credit platform tailored to cater to the requirements of the Egyptian export market. This initiative, as per the announcement sent to the EGX, will be funded through a USD 100 million loan secured from Beltone's principal shareholder. Shareholders greenlit the loan during an ordinary general meeting convened on April 29, 2024.
Sidi Kerir Petrochemicals (SKPC) Announces Dividend Distribution: EGP 1.25 per Share in Two Installments
Sidi Kerir Petrochemicals (SKPC) has declared the distribution of cash dividends at EGP 1.25 per share, to be paid out in two installments. The initial installment, amounting to EGP 0.75 per share, will be disbursed on May 29, 2024. The second installment, valued at EGP 0.50 per share, is slated for September 25, 2024. Shareholders retain the right to the coupon until the conclusion of the May 26, 2024, session.
Sidi Kerir Petrochemicals (SKPC) Posts 7.50% Rise in 1Q-24 Net Profit Alongside Capital Expansion Approval
Sidi Kerir Petrochemicals (SKPC) Board of Directors made an early announcement today to the EGX, before the session commencement, regarding its meeting decisions. The board greenlit the unaudited financial statements for the company as of March 31, 2024, revealing a 7.50% increase in SKPC's net profit for the first quarter of 2024, amounting to EGP 559 million compared to EGP 520 million for the corresponding period last year.
Furthermore, the Board approved the disclosure report regarding the augmentation of issued and paid-in capital, from EGP 1.512 billion to EGP 1.8144 billion. This involves an EGP 302.4 million increase, distributed over 756 million shares (one share for every five shares), financed from the profits of the fiscal year ended 2023.
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