Naeem Holding, Egypt’s third-largest publicly traded investment bank, rose to the highest level in more than a month after saying it received bids for Arabeya Online, the company’s web-based brokerage arm.
Naeem gained 4.4 percent to 47 cents at 12:06 p.m. in Cairo, its highest intraday level since June 21.
Naeem received final offers for 90 percent of Arabeya Online, the Cairo-based company said in a regulatory filing to the Egyptian Exchange today. Naeem first said it was seeking to sell Arabeya Online on June 6.
