EGX 30 rises 1.33% as Elsewedy and OCI’s EUR4.10 offer drive focus

The EGX 30 closed up 1.3294% at 50,488.0 on June 30, after a 1.03% drop flagged on June 29, according to market data and analyst coverage. Elsewedy Electric launched a new generator range aimed at Egypt’s industrial expansion, while the group was also linked to $200 million of circular-economy projects, according to Billionaires.Africa and intlbm. OCI N.V. confirmed it had received an unsolicited voluntary cash offer from NNS at EUR4.10 per share, according to TradingView. EFG Hermes also completed advisory work on Premium’s EGP239 million securitized bond issuance, while Sustainable Capital Africa Alpha Fund’s stake in Orascom Construction fell to 14.98%, according to TradingView.