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Tuesday, 12 November 2019

Egypt's bourse rises by 1.86 pct

Ahram Online , Thursday 8 Oct 2015
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File photo: Workers at Egypt's stock exchange market are seen in the trading hall in Cairo (Photo: AP)
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Egypt's main index EGX30 rose by 1.86 percent, closing at 7,492 points on Thursday.

The increase came following news of Orascom Telecom Media and Technology and Act Financial seeking to acquire 100 percent of Beltone Financial.

The acquisition is valued at EGP 650 million, with the share of Orascom Telecom and Act Financial being 87 and 13 percent respectively, according to a statement on the bourse website on Thursday.

Beltone Financial and Orascom Telecom were the biggest gainers of today's session, rising 19.72 pct to LE3.43 and 7.14 pct to LE 0.76 a share, respectively.

Market bellwether and largest local private sector lender Commercial International Bank (CIB) saw its share price rise 2.26 percent to LE54.71.

Non-Arab foreign investors were net sellers for LE38 million, while Arab investors were the main net buyers for LE19.2 million and Egyptian investors were net-buyers for LE18.9 million.

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