Cairo – Mubasher: The Egyptian Exchange (EGX) on Tuesday announced the suspension of trading on Rakta Paper Manufacturing’s stock.
The suspension will remain in force until the firm responds to the stock market's inquiries concerning published reports on the company’s plan to finance four projects at a cost of EGP 450 million, according to the EGX’s statement.
During the first nine months of fiscal year 2018/2019, Rakta reported net losses of EGP 80.73 million, compared to EGP 52.28 million in the year-ago period.
Sales stood at EGP 104.8 million at the end of March from EGP 149.3 million in the corresponding period of the previous fiscal year.
