EGX decides to limit down Misr Beni Suef Cement's share price 21.89%

ArabFinance: Egyptian Stock Exchange (EGX) allowed to limit down the share price of Misr Beni Suef Cement (MBSC) 21.89%, while the temporary halt limit will be about 17.55% of the closing price ending a September-22 session because the cash dividends value is higher than the halting limits.

EGX's price movement will start from the first trading session of the stock without the right issue until the end of the session that records a new closing price.

The Company declared a cash dividend of EGP 2.5 per share payable on September 25, 2019, moreover, the shareholders as on September 22, 2019, are entitled to cash dividends distribution.

Under EGX's chairman resolution, No. 301 of 2017, regarding the cash dividends' impact on the market price of the stock, stipulating that the interim halt limit and price limits will be calculated on the theoretical price, the last closing price minus the distribution value. Price limits and temporary halt limit up will be kept unchanged, as the distribution value is greater than the applied price limit.

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