Orascom Telecom (OT) shares surged 57 per cent on Sunday following an eight-week suspension imposed while the company spun off assets owned by businessman Naguib Sawiris.

The purchase by Russia's Vimpelcom of most of OT in April resulted in it being split into two companies.

Under the deal, assets including a stake in Egyptian mobile operator Mobinil and Orascom's North Korean operations were spun off into Orascom Telecom Media and Technology (OTMT), which will remain under Sawiris's control.

OT's shares were trading at 2.71 Egyptian pounds while OTMT's shares were trading at 0.97 pounds.

OT's shares have been suspended since 24 November.

Vimpelcom bought Orascom's parent company, Wind Telecom, in April in a deal worth more than $6 billion.

Egypt's benchmark index was 1.9 per cent higher.