Egyptian Stocks: EFG-Hermes Holding and South Valley Cement
The following shares were active on the Egyptian Exchange. Stock symbols follow company name.
EFG-Hermes Holding SAE (HRHO) advanced for a second day, increasing 1.1 percent to 10.98 Egyptian pounds. The Bank of New York Mellon Corp. in the second quarter increased its stake in the biggest publicly traded Arab investment bank to 8.2 percent from 7.9 percent.
South Valley Cement (SVCE) gained 2.1 percent to 3.39 pounds. The shares rose for a second day after the Cairo-based producer of the building material said it intends to complete a 24.3 million-share buy-back program and asked its managing director to determine a new price. The company bought about 168,000 shares at 3.5 pounds each, it said yesterday.
To contact the reporter on this story: Ahmed A. Namatalla in Cairo at email@example.com
To contact the editor responsible for this story: Claudia Maedler at firstname.lastname@example.org