Cairo – Mubasher: Orascom Telecom Media and Technology Holding's stock rose to its highest level since 4 August 2015 during Wednesday's trading.
By 12:30pm, the stock hiked 10.3% to EGP 0.87.
The share topped the traded volume by 87.7 million shares at a value exceeded EGP 74 million, through more than 1,400 transactions.
Beltone Financial Holding said its board of directors gave a nod to raise the company’s free float rate on the Egyptian Exchange.
In the same vein, Orascom, Beltone’s main shareholder, approved in principle to float not less than 5% and note more than 10% of Beltone’s shares on Egypt’s bourse.
The telecom company reported a 98.7% decrease in its losses for the third quarter of 2016 to EGP 46.77 million.
