Bloomberg News

Egyptian Stocks: Orascom Telecom Holding and Citadel Capital

May 27, 2012

Egypt’s benchmark EGX30 Index (EGX30) fell 3.5 percent, the most in two months, to 4,798.14 at the 2:30 p.m. close in Cairo.

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

Citadel Capital SAE (CCAP) slumped 6.8 percent, the most since March 13, to 2.89 Egyptian pounds. The Cairo-based private equity firm said Chief Financial Officer Ahmed El Shamy and Managing Director Ahmed El Houssieny will leave at the end of the month.

Orascom Telecom Holding SAE (ORTE) lost 5.9 percent, the most since April 8, to 3.2 pounds. An Algerian court is due to resume today hearing Orascom’s appeal of a $1.3 billion fine against its local unit because of foreign-exchange violations.

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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