Cairo – Mubasher: Amer Group Holding said Monday that the board of directors suggest converting a capital stake up to 33% into global depositary receipts (GDRs), according a bourse statement.
The extraordinary general meeting is expected to consider this proposal that does not exceed the regular free float percentage.
Amer Group earned EGP 76.3 million during the third quarter of 2016, higher 75.2% year-over-year from EGP 43.6 million, the consolidated results revealed Tuesday.
Over the first nine months, consolidated net profit rose 36% year-on-year to EGP 151.5 million from EGP 111.4 million.
On Monday, the stock quote steadied at EGP 0.34 by 10:21 Cairo local time.
