Orascom Telecom Leads Egyptian GDRs’ Backwards; LSE

By Yomna Yasser On Apr 4, 2012

Egypt’s Global Depositary Receipts (GDRs) listed in the EGX witnessed on Wednesday a fluid performance during London Stock Exchange (LSE)’s early trading. Five GDRs have been traded in; 3 downed and 1 rose, while Telecom Egypt (ETEL) solely kept its previous levels closing at price of $ 13.90.

Orascom Telecom Holding (OTH) (ORTE)’s CD led the GDRs’ backwards by going down 4.92% to close at $ 3, losing 16 cents. EFG-Hermes Holding (HRHO) also fell 1.53% to reach $ 4.50, losing 7 cents.

Additionally, The Commercial International Bank- Egypt (COMI) dropped 0.62% to reach $ 4.08, losing 3 cents.

In the meanwhile, Orascom Construction Industries (OCIC) solely surged 1.15% to close at $ 42.99, gaining 49 cents.