Egyptian Stocks: CIB, NSGB, Credit Agricole and Orascom Media
The following shares were active on the Egyptian Exchange. Stock symbols follow company name.
Commercial International Bank Egypt SAE (COMI) , the country’s biggest publicly traded lender, gained 1.3 percent to 28.47 Egyptian pounds. Egypt’s Finance Ministry said it plans to change its debt issuance strategy to focus on longer-maturity securities. Local banks have been the largest buyers of the debt since the start of last year’s revolution.
Orascom Telecom Media & Technology Holding SAE (OTMT) declined 2 percent to 1.45 pounds, the lowest close in almost three weeks. The Cairo-based company was rated hold in new coverage at Pharos Holding for Financial Investments, which cited the high risk of the company’s North Korean asset and lack of information about its strategy.
Shareholders on record today will be eligible for a 1.05 pound per share dividend on July 19.
To contact the reporter on this story: Ahmed A. Namatalla in Cairo at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.