MARKET NEWS-

Rameda Pharma will distribute EGP 127.9 mn worth of bonus shares at EGP 0.5073 per share, according to an EGX disclosure (pdf). The issuance will raise the company’s issued capital to EGP 380 mn and the number of its shares to 1.5 bn.

MARKET ROUNDUP-

The EGX30 rose 1.4% at today’s close on turnover of EGP 1.68 bn. Local investors were net buyers. The index is up 16.5% YTD.

In the green: Eastern Company (+6.2%), Heliopolis Housing (+5.2%) and Juhayna (+4.8%).

In the red: Edita (-2.2%), Egypt Kuwait Holding - EGP (-1.1%) and Qalaa Holdings (-1.0%).

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