Egypt -  The Egyptian Exchange (EGX) has set the limit down of Oriental Weavers (ORWE) at 19.435%.

The circuit breaker of the company’s stock is also set at a limit down level of 14.960%, the EGX disclosure added.

The stocks’ price movement limits will be effective as of the closing session of the ex-dividend date on July 26th.

The EGX’s decision came after the company’s announcement of distributing cash dividends of EGP 0.650 per share.

Founded in 1979 and listed on EGX in 1997, Oriental Weavers has emerged as a producer of machine-woven carpets and rugs for the residential, commercial, and hospitality industries. It also offers various lines of area rugs as well as manufactures woven goblins and tapestries.

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