Egypt’s public prosecution on Saturday ordered to imprison Juhayna Food Industries company chairman Safwan Thabet for 15 days on charges of “funding a terrorist group”. A Friday statement from Juhayna added that the prosecution has also moved to confiscate Thabet’s property. Juhayna’s shares declined by 6.1 percent on Wednesday, following the arrest of its founder and chairman Safwan Thabet by Egyptian authorities. Juhayna stock closed at LE6.46, amid the trading of about 557,000 shares, LE 3.6 million liquidity, and 198 transactions on the company’s shares. Following news of the arrest, the Egyptian Exchange suspended the company’s shares.

Source: Egypt Independent December 03, 2020 09:22 UTC