MARKET WATCH-

Orascom Construction will pay out dividends of EGP 5.535 (USD 0.185) per share for 2022, redeemable on 9 February, it said in an EGX disclosure (pdf) earlier today. The company will pay out a total of EGP 646 mn (USD 21.6 mn) worth of dividends. Shareholders whose shares are listed on the Nasdaq Dubai will receive their dividends in USD, while those with shares in the EGX will receive them in EGP, it said (pdf).

MARKET ROUNDUP-

The EGX30 rose 1.6% at today’s close on turnover of EGP 2.3 bn (33.9% above the 90-day average). Regional investors were net buyers. The index is up 12.6% YTD.

In the green: CIB (+4.9%), EFG Hermes (+4.7%) and Orascom Construction (+4.0%).

In the red: Cleopatra Hospitals (-2.7%), Alexandria Containers and Cargo Handling (-2.2%) and Heliopolis Housing and Development (-1.7%).

Tags: