Egypt bourse suspends El Sewedy Electric over dam reports
The stock market had requested the explanation following reports
Cairo: The Egyptian stock market on Wednesday halted trading of El Sewedy Electric pending details on reports of a deal it had signed to participate in the construction of a $3 billion (Dh11 billion) dam in Tanzania, the company said in a statement.
It said the stock market had requested the explanation following reports that had appeared online stating that “El Sewedy Electric signs a partnership with Arab Contractor Company to build a dam in Tanzania amounting $3 billion”.