Egypt's EFG-Hermes jumps on Qinvest deal

Reuters, Monday 7 May 2012

Shares in Egypt's EFG-Hermes jumped six per cent on Monday following the announcement of an agreement with Qatar's Qinvest to form a region-wide investment bank.

The stock exchange said it had suspended shares after exceeding the five per cent limit. Monday was the first day of trading on the stock since the deal was confirmed, after EFG-Hermes was suspended during Sunday's session.
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