Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) decided to halt trading on the stock of Remco for Tourism Villages Construction.
Trading will remain suspended until the company responds to the FRA’s inquiries regarding the disclosure about the letter of intent it received for the acquisition of its stake in Orient Tours for Hotels and Touristic Villages, according to a statement to the Egyptian Exchange (EGX) on Tuesday.
In the first nine months of 2020, Remco suffered net losses of EGP 52.2 million, down from EGP 204.45 million in the corresponding period a year earlier.
Revenues amounted to EGP 213.99 million in the January-September period of 2020.
