Bloomberg News

Egyptian Stocks: Citadel Capital and Ezz Steel Are Active

January 12, 2012

Jan. 12 (Bloomberg) -- Egypt’s benchmark EGX 30 Index rose 0.3 percent to 3,777.88 at the 2:30 p.m. close in Cairo, the highest level in more than three weeks. The gauge advanced 4.1 percent this week.

The following were among the most-active equities on the Egyptian Exchange today. Stock symbols follow company names.

Citadel Capital SAE (CCAP EY) gained 2.8 percent, the most since Nov. 29, to 2.56 Egyptian pounds. The Cairo-based private equity firm said it raised its stake in Wafra, a Sudanese agriculture company, to 99.9 percent.

Ezz Steel (ESRS EY) rose 3.3 percent to 4.08 pounds, the highest since Dec. 20. The government has agreed to return production licenses to Ezz Steel and three other producers of the metal in exchange for fees totaling 1.47 billion pounds ($240 million), Al Shorouk newspaper reported today. The licenses had earlier been revoked by a court order.

--Editors: Daliah Merzaban, Claudia Maedler

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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