Egyptian Stocks: Citadel Capital, Egyptian Resorts Are Active

Egypt’s benchmark EGX 30 Index (EGX30) advanced for the sixth time in seven days, rising 0.8 percent to 4,249.94 at 12:12 p.m. in Cairo, poised for the highest close since Sept. 26.

The following shares rose or fell. Symbols are in parentheses.

Citadel Capital SAE (CCAP EY) gained 3 percent to 3.40 Egyptian pounds, the highest intraday level since Oct. 4. The private equity firm said shareholders, including international investors, subscribed to 210 million new shares at a par value of 5 pounds each, meeting the company’s target.

Egyptian Resorts Co. (EGTS) rose for the second time this week, gaining 2 percent to 1.01 pounds. The resorts developer signed an agreement to have Nikki Beach Hotels and Resorts manage a 100-room hotel in Sahl Hasheeh near Hurghada, Egypt.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.