MARKET NEWS-

NBK Egypt’s board has approved plans to voluntarily delist its shares from the EGX, according to a bourse disclosure (pdf). Financial advisor Prime Capital valued the shares at EGP 20.03 and the bank will buy back shares from shareholders who want to sell their stakes.

MARKET ROUNDUP-

The EGX30 fell 0.9% at today’s close on turnover of EGP 699 mn (49.3% below the 90-day average). Local investors were net buyers. The index is up 6.6% YTD.

In the green: Speed Medical (+6.7%), CIRA (+4.5%) and Fawry (+0.4%).

In the red: Orascom Development (-5.2%), MM Group (-4.0%) and Egypt-Kuwait Holding-EGP (-3.4%).

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