Eipico, CIB Egypt, Orascom Telecom: Egypt Equity Preview
The following companies may be active in Egypt’s stock market. Symbols are in parentheses and prices are from the last close.
The benchmark EGX30 Index declined 3.2 percent to 4,956 in Cairo.
Egyptian International Pharmaceutical Industries Co. (PHAR EY): Egypt’s biggest publicly traded drug company will distribute a 2.5 Egyptian pound a share dividend May 5 for shareholders as of May 2. The company paid a 1 pound dividend in April last year, according to data compiled by Bloomberg. The shares retreated 1.2 percent to 36.5 pounds.
Commercial International Bank Egypt SAE (COMI) : The Egyptian Central Bank urged lenders to carry out stress tests to assess the impact of the political crisis on their credit portfolios. The shares fell 3.4 percent to 28.01 pounds.
National Development Bank (DEVE EY): The Cairo-based unit of Abu Dhabi Islamic Bank said its chairman Mohamed Alwe resigned. The lender appointed Chief Executive Officer Niveen Lotfi as acting chairman. The shares lost 4.5 percent to 4.07 pounds.
Orascom Telecom Holding SAE (ORTE) : North Africa’s biggest mobile-network operator posted a fourth-quarter loss of $178.8 million. CI Capital and Beltone Financial had estimated profit of $78 million and $56 million, respectively. The shares declined 4.3 percent to 4.2 pounds.
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