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Egyptian Stocks: Mobinil, B-Tech and EIPICO Were Active

Egypt’s benchmark EGX30 Index (EGX30) fell for the second time in three days, losing 0.3 percent to 4,920.96 at the 2:30 p.m. close in Cairo.

The following shares were active on the Egyptian Exchange. Stock symbols follow company names.

B-Tech (OSTD) jumped 7.9 percent, the most in more than three months, to 2.88 Egyptian pounds. The appliances retailer and unit of Olympic Group Financial Investments (OLGR) will pay a 19- piaster dividend on May 10. The company hasn’t paid dividends to its shareholders in two years, according to data compiled by Bloomberg.

Egyptian Co. for Mobile Services (EMOB EY) advanced 1.1 percent to 194.79 pounds, the highest level in almost two years. The Arab country’s second-biggest mobile-network operator said the board will give an assessment by May 16 of France Telecom SA (FTE)’s bid to buy the shares it doesn’t own in the company known as Mobinil.

Egyptian International Pharmaceutical Industries Co. (PHAR) retreated 1.2 percent to 33.51 pounds, the lowest level in more than a week. The country’s biggest publicly traded drug producer, also known as EIPICO, was cut to hold from buy with a 12-month share-price estimate of 38.2 pounds at CI Capital Holdings.

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

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