Monday 23 Dec
Talaat Moustafa Holding Group (TMG) stock continues to soar in the Egyptian stock exchange, fueled by the Group's successful regional expansion into the Iraqi and Saudi markets.
Today's trading session saw TMG's
stock close at an impressive 59.91 Egyptian pounds, marking a significant 5.6%
increase and a total trading volume of 640.3 million Egyptian pounds.
In a statement to the stock
exchange, TMG Holding announced that it is actively exploring the legal and
technical requirements for launching several projects in Iraq. The group will
provide further details on these projects once the necessary executive
procedures are underway.
Iraq is planning to establish 11
new integrated cities, several of which were presented as investment
opportunities to Egyptian and Saudi investors during a recent meeting with the
Iraqi Prime Minister. He urged these companies
to consider investing in tourism resorts, hotels, and recreational facilities,
highlighting Iraq's diverse tourist attractions. He emphasized that the
economic progress of Iraq is beneficial to all Arab countries.
Meanwhile, Talaat Moustafa Holding Group (TMG) reported a substantial increase in net profit for the first half of 2024, reaching 6.36 billion Egyptian pounds. This figure represents a significant improvement compared to the 1.55 billion Egyptian pounds earned during the same period in 2023.
