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Egypt Stocks: EFG-Hermes Holding and Orascom Construction Moved

Egypt’s benchmark EGX30 Index (EGX30) advanced the most in two weeks, rising 0.1 percent to 4,489.55 at the close in Cairo.

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

EFG-Hermes Holding SAE (HRHO) slumped 3.1 percent in the past five days, its fourth weekly loss. The stock fell 0.8 percent to 10.63 Egyptian pounds today.

The biggest publicly traded Arab investment bank this week said it is taking legal action to protect the company and its shareholders amid a plan by Planet IB Ltd. to buy the investment bank. Separately, the bank said this week first-quarter profit fell to 35 million pounds ($5.8 million) from 37 million pounds a year earlier.

Orascom Construction Industries (OCIC EY) advanced 0.7 percent, snapping a nine-day slump, to 249.07 pounds. Egypt’s biggest publicly traded builder said the World Bank’s International Finance Corp. will provide a $100 million loan to a unit.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

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

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