Egyptian Stocks: Six of October and Medinet Nasr Housing
The following shares were active on the Egyptian Exchange. Stock symbols follow company names.
Medinet Nasr Housing (MNHD) surged 6.3 percent to 20.71 Egyptian pounds, the highest level since July. Profit for the Cairo-based property developer in 2011 advanced 64 percent to 59.9 million pounds ($9.9 million). The company’s board recommended distributing one free share for every 21 held.
Six of October Development & Investment Co. (HRHO EY) climbed 7.9 percent to 19.22 pounds, the highest level in almost seven months. The Cairo-based luxury real-estate developer, also known as Sodic, sold all 160 residential units it offered as it started second and third phases of its Westown Residence project. It signed contracts valued at 193 million pounds, bringing its total for the year to about 420 million pounds.
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