EGX Pares Its Midday Losses, EFG-Hermes Shares 3.49% Up: Thursday Closing
Whilst Thursday’s closing trading, the EGX pared its midday losses to eventually reach EGP 1.41 billion as the capital market has amounted to EGP 335.471 billion.
The main index, EGX30 maintained its previous levels to close at 4681.01 p. EGX20 inched lower 0.01% to conclude at 5339.97 p.
Meanwhile, the mid- and small-cap index, the EGX70 edged down 0.03% to end at 408.62 p. Price index EGX100 dived 0.25% to finish at 732.32 p.
Traded volume reached 45.772 million securities worth EGP 187.644 million, exchanged through 9.199 thousand transactions.
This was after trading in 144 listed securities; 101 declined and 31 advanced while 12 keeping their previous levels.
Egyptians and non-Arab Foreigners were net sellers seizing 77.21% and 16.45% respectively, of the total markets, with a net equity of EGP 32.935 million and EGP 28.922million, excluding the deals.
On the other hand, Arabs were net buyers seizing 6.35% of the total markets, with a net equity of EGP 61.857 million excluding the deals.
EGX’s leading shares witnessed unsteady performance. Orascom Telecom Holding (OTH) (ORTE.CA) climbed 1.29% to finish at EGP 3.13.
On the other hand, shares of Orascom Construction Industries (OCIC.CA) sank 2.39% closing at EGP 257.85. Orascom Telecom Media & Technology Holding (OTMT.CA) also edged down 0.76% ending at EGP 1.30. Commercial International Bank- Egypt (COMI.CA) went down 0.24% finishing at EGP 24.53.
EFG-Hermes:
Shares of EFG-Hermes Holding (HRHO.CA) jumped 3.49% reaching EGP 11.66 amid news about receiving a buyout offer from Planet Consortium Group worth $1.2 billion.
A group of investors is considering a bid to acquire EFG-Hermes Holding (HRHO.CA) in a deal worth $1.2 billion.
EFG-Hermes officials would not comment. An official said the Egyptian market regulator, the Egyptian Financial Supervisory Authority (EFSA) had no information about an offer.
EFG-Hermes mentioned that it has no further information about the exact price offer except for the fact that Group named Planet Consortium IB Limited was founded for the intention of running the acquisition of EFG-Hermes. This new group includes some Arab investors and Egyptian bankers.
