Alexandria Mineral Oils Co. (AMOC) headed for the biggest decline since Nov. 21 after the petroleum products producer denied a report in Al Mal newspaper that it may embark on a $680 million project.
The shares tumbled 2.1 percent to 68.13 Egyptian pounds at 1:17 p.m. Egypt’s benchmark EGX 30 Index fell 0.1 percent.
The report is “incorrect,” the company known as Amoc said in a regulatory filing to the Egyptian Exchange after the market closed yesterday.
To contact the reporter on this story: Alaa Shahine in Dubai at email@example.com
To contact the editor responsible for this story: Claudia Maedler at firstname.lastname@example.org