Solidere Elects a New Board of Directors

On July 24, 2018, Solidere elected a new Board of Directors (BoD) headed by Nasser Chammaa. Members include Nader Hariri, Mohamed Choucair, Hassan Kabbani, Beirut Mayor Jamal Itani, Ghazi Youssef, Ricardo Rahme, Raphael Sabbagha, Raja Salame, Makram Abboud, Ziad Abu Jamra and Tarek Chehab. In fact, it seems the formation of a new BoD paved the way for a short-lived optimism. The share prices of Solidere A and Solidere B recorded daily upticks of 5.39% and 8.48%, to close the day at $7.80 and $7.81, respectively, after the news was announced.

However, by 25/07/2018, the optimism weakened, as Solidere A rose by an incremental 0.13% to $7.82 while Solidere B shares lost 2.69% to close the day at $7.59.

Solidere A and B Share Prices

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Source: BSE

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