Juhayna Food Industries (JUFO), Egypt’s biggest producer of packaged milk, rose the most on record after one of its units completed an insurance compensation agreement for a 2010 factory fire.
Shares of the Cairo-based company climbed 10 percent, the most since they were listed in June 2010, to 4.29 Egyptian pounds at 11:50 a.m. in Cairo. The benchmark EGX 30 Index (EGX30) gained 5.3 percent.
Juhayna said its unit, the Egyptian Co. for Food Industries, has signed the final agreement for a 93.7 million- pound ($15.6 million) insurance settlement.
To contact the reporter on this story: Ahmed A Namatalla in Cairo at email@example.com
To contact the editor responsible for this story: Claudia Maedler at firstname.lastname@example.org