Bloomberg News

Egyptian Stocks: Citadel Capital, Six of October Development

October 05, 2011

Oct. 5 (Bloomberg) -- Egypt’s benchmark EGX 30 Index declined for a third day, dropping 1.8 percent to 3,951.99 as of the 2:30 p.m. close in Cairo.

The following shares rose or fell. Symbols are in parentheses.

Citadel Capital SAE (CCAP EY) fell to the lowest on record, decreasing 5.5 percent to 3.12 Egyptian pounds. The Egyptian private-equity company said its rights offer was 41.7 percent subscribed and the company plans to offer the remaining shares to investors.

Six of October Development & Investment (OCDI EY) dropped to its lowest close since March 2009, declining 3.4 percent to 12.44 pounds. The Egyptian luxury real-estate developer had its price estimate lowered to 15.7 pounds from 38.3 pounds with a “neutral” outlook at Credit Suisse AG.

-- Editors: Peter Branton, Ana Monteiro

To contact the reporter on this story: Mahmoud Kassem in Cairo at mkassem1@bloomberg.net

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


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