Egyptian bourse halts company, businessman stocks
Egyptian Exchange Market
Cairo - MENA
The Egyptian Exchange Market decided Thursday to halt trading on all Namaa brokerage company stocks, as well as the stocks of businessman Safwan Thabet, Chairman of Juhayna company.
According to Mohamed Omran, the head of Egypt's bourse, halting Namaa stocks was a precautionary procedure as the company was owned by businessmen belonging to the Muslim Brotherhood (MB) group.
The decision came following an official letter received by Egypt's bourse from the ad-hoc committee on reservation of MB funds, Omran told MENA.
As for the decision on halting stocks of chairman of Juhaya company, Omran clarified that it was not concerned with the company stocks, rather the stocks owned by Thabet himself.
A relevant decision was announced earlier in the day by committee chief Counsellor Ezzat Khamis.
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