Bloomberg News

Egyptian Stocks: EFG-Hermes Holding and Arab Cotton Ginning

May 30, 2012

Egypt’s benchmark EGX30 Index (EGX30) rose for the first time in four days, gaining 0.7 percent to 4,715.59 at 12:15 p.m. in Cairo.

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

Arab Cotton Ginning (ACGC EY) declined as much as 0.8 percent to 2.4 Egyptian pounds before trading at 2.41 pounds, poised for the lowest close in more than four months. The Cairo- based company said it had a nine-month loss of 10.1 million Egyptian pounds ($1.7 million) compared with a 73.9 million- pound profit a year-earlier.

EFG-Hermes Holding SAE (HRHO) increased 2.4 percent to 10.85 pounds, heading for the highest close in almost a week. The Cairo-based company said Grant Thornton valued at 700.5 million pounds units whose ownership will be transfered to its Qatari subsidiary to facilitate the creation of a joint investment bank with QInvest.

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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