Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Abu Kir, Mobinil, Orascom Construction: Egypt Equity Preview

March 28 (Bloomberg) -- The following companies may be active in Egypt’s stock market. Stock symbols are in parentheses and prices are from the last close unless otherwise indicated.

The benchmark EGX30 Index gained 5.3 percent to 5,212.08 in Cairo.

Abu Kir Fertilizers & Chemical Industries Co. (ABUK EY): The country’s biggest publicly traded fertilizer company will distribute a 5 Egyptian pound dividend on April 14 for shareholders as of April 11. The shares rose 5.1 percent to 203.54 pounds.

Egyptian Co. for Mobile Services (EMOB EY): Egypt’s oldest mobile network operator, known as Mobinil, was raised to “underweight” from “sell” with a share-price estimate of 143 pounds at CI Capital. Mobinil is expected to benefit from growing demand for broadband services through its unit LinkdotNet, the bank said in a report. The shares gained 10 percent to 136.91 pounds.

Orascom Construction Industries (OCIC EY): Egypt’s largest publicly traded builder had its share-price estimate cut to 250 pounds from 282 pounds at Deutsche Bank AG, which maintained the “hold” recommendation. The shares rose 8.2 percent to 221.52 pounds.

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.