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Egyptian Stocks: Orascom Telecom Media and EFG-Hermes Holding

Egypt’s benchmark EGX 30 Index (EGX30) gained 1.2 percent, the most since May 21, to 4,448.84 at the close in Cairo.

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

EFG-Hermes Holding SAE (HRHO) gained 1.8 percent, the most since May 31, to 10.18 Egyptian pounds. The biggest publicly traded Arab investment bank said its agreement with Qatar’s QInvest LLC to form a joint venture is legally binding after it was ratified by shareholders.

Orascom Telecom Media & Technology Holding SAE (OTMT) jumped 9.3 percent, the most since Feb. 14, to 1.29 Egyptian pounds. The mobile-phone operator headed by Egyptian billionaire Naguib Sawiris recommended a dividend of 1.05 Egyptian pounds ($0.17) a share.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

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

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