Cairo – Mubasher: Abu Qir Fertilizers' stock went up to its highest level in 18 months, or since October 2015, coinciding with a capital increase through the distribution of bonus shares and splitting the stock.
By 12:51pm Cairo time on Wednesday, the stock levelled up 2.68% to EGP 152.17 with trading value of EGP 252,140.
The company had recently said its board of directors will discuss boosting its capital through distributing bonus shares by half a share for each share financed from the reserves.
Abu Qir Fertilizers’ profits surged 115% in the first half of its fiscal year between July and December reaching EGP 1.09 billion.
The stock opened Wednesday at EGP 138.34.
