Bloomberg News

Egyptian Stocks: Orascom Telecom Holding, Oriental Weavers

May 06, 2012

Egypt’s benchmark EGX30 Index (EGX30) rose 0.9 percent to 4,973.62 at the 2:30 p.m. close in Cairo, the highest level in more than a month.

The following shares were active on the Egyptian Exchange. Stock symbols follow company names.

Orascom Telecom Holding SAE (ORTE) retreated as much as 2.7 percent to 3.22 Egyptian pounds before closing at 3.29 pounds. Shareholders of North Africa’s biggest mobile-phone company approved borrowing $2.5 billion from VimpelCom Ltd. (VIP:US) at an interest rate of 12.5 percent for as long as five years.

Oriental Weavers Co. (ORWE) increased 1.9 percent, the most in a week, to 19.22 pounds, the highest level in two weeks. Egypt’s biggest carpets manufacturer will pay a 1.50-pound dividend per share on May 17.

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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Companies Mentioned

  • VIP
    (VimpelCom Ltd)
    • $8.29 USD
    • 0.33
    • 3.98%
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