Citadel, Orascom Construction, Pioneers: Egyptian Equity Preview

The benchmark EGX30 Index rose 2.3 percent to 4,729.26 in Cairo. The measure has gained 3 percent this week.

Citadel Capital SAE (CCAP EY): The Egyptian private equity firm is proceeding with a capital-increase plan to sell 210 million shares at 5 Egyptian pounds each, as approved by shareholders earlier this month, Chairman Ahmed Heikal said. The company’s main shareholder, Citadel Capital Partners, will cover as much as 827 million pounds ($139 million) of the 1.05 billion-pound increase if needed, he said. The shares declined 1 percent to 3.95 pounds.

Egyptian Kuwaiti Holding Co. (EKHO) : The Cairo-based private equity firm said its six-month profit fell 3.3 percent from a year-earlier to $81.7 million. The shares advanced 1.8 percent to $1.15.

Orascom Construction Industries (OCIC) : Egypt’s biggest publicly traded builder is one of three companies that submitted bids to build a 1,014-megawatt power plant in Iraq. The shares gained 2.4 percent to 253.53 pounds.

Pioneers Holding (PIOH) : The Cairo-based investment bank said its six-month profit surged more than five-fold from a year-earlier to 55.7 million pounds. The shares fell 1 percent to 4.86 pounds.