Egypt .. South Valley Cement has closed with the largest daily gains in 16 years

The arrow of the south of the valley for the cement included and traded on the Egypt Stock Exchange increased by 20%, at the end of the Tuesday session to close at 5.34 pounds per share, and a difference of 89 piasters in the arrow.

The company has achieved the largest daily gains in 16 years and 6 months, and it was the largest previous daily gains in the July 24, 2008 session.

The trading on the arrow of the south of the valley for cement at that time through 9.812 thousand trading operations, on 75.98 million shares with a trading value of 385.45 million pounds.

The highest price for the share at that time was at 5.34 pounds per share, while the lowest price per share was at 4.51 pounds per share.

This came in the wake of the company’s rejection of the proposed settlement of the problems it faces and presented by the Arbitration Department of the Ministry of Justice, and decided to open and operate the factory by having solutions to finance this, either by increasing the company’s capital through shareholders enough to repair the factory and put an operating worker.

South Valley Cement explained that in the event that the capital increase is not successful for reasons related to the fact that the nominal value is greater than the market value, the company will try to find an investor or obtain financing, noting that the employment decision came to achieve the desire of the Deputy Prime Minister and Minister of Industry.

It is noteworthy that the South Valley of Cement is an Egyptian company specialized in the production of cement and other constructive materials, founded in 1997, and is located in Giza Governorate and is one of the largest companies in that field in Egypt and the Middle East, and provides a variety of products such as white cement, black cement and prepared concrete.