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Egypt Kuwait Holding drops 9.7 per cent on chairman's death

Reuters, Sunday 17 Apr 2011

Egypt Kuwait Holding's stock tumbled 9.7 per cent on Sunday after its chairman, Kuwaiti billionaire Nasser al-Kharafi, died while on a trip to Cairo.

Kuwait's state news agency KUNA said on Sunday Kharafi had died after suffering a heart attack. An earlier report from Al-Arabiya television said he died on Saturday. The firm has yet to announce the death officially.

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