Bloomberg News

Egyptian Stocks: Beltone Financial and Citadel Capital

November 17, 2011

Nov. 17 (Bloomberg) -- Egypt’s benchmark EGX 30 Index declined for a seventh day, its longest losing streak since July, retreating 1.1 percent to 4,124.71 at the 2:30 p.m. close in Cairo. That brought the measure’s drop this week to 5.9 percent.

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

Beltone Financial Holding SAE (BTFH EY) decreased for the third time this week, retreating 1.9 percent to 13.5 Egyptian pounds. The Cairo-based investment bank said its nine-month net loss widened to 18.8 million pounds ($3.1 million) from 2.36 million pounds a year earlier.

Citadel Capital SAE (CCAP EY) advanced for a third day, gaining 1.3 percent to 3.11 Egyptian pounds. The Cairo-based private equity firm said after markets closed its main shareholder, Citadel Capital Partners, transferred about 40 million shares to “strategic investors” as part of a settlement. Another transfer will be completed in the next few weeks, reducing Citadel Capital Partners’ stake to 26 percent.

--Editors: Claudia Maedler, Shanthy Nambiar

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


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