Egyptian Exchange Posted
The Egyptian Exchange (EGX) welcomed its 216 new arrival in the main market, Marseille Almasreia Alkhalegeya for Holding Investment, making the total number of listed companies on EGX to 243 companies after the transfer of its shares from the SMEs market to the main market. The company’s issued capital is EGP100.8 Million distributed over 100.8 million shares with a nominal value of 1 pounds per share. The company is obliged to publish its disclosures in accordance with the article (7) of the listing rules
The event was attended by Dr. Mohamed Farid Saleh, Executive Chairman of EGX, representatives of the listing team at EGX and leaders of the Marseille Almasreia Alkhalegeya for Holding Investment.
Marseille Almasreia Alkhalegeya for Holding Investment is the second company to transfer the listing and trading of its shares from the SME market to the main market. This helps companies to take advantage of the trading mechanisms and rules available in the main market, a step that reflects the growth of companies through the financial markets. This also helps them to implement their business development plans and achieve their objectives.
Dr. Mohamed Farid, Executive Chairman of EGX, said that its trading today in the main market, coincided with the comprehensive restructuring plan for the SME market that was implemented by EGX to develop this market last year and launched in the presence of the Egyptian Prime Minister, Dr. Mostafa Madbouly. This opened the way and stimulated companies to benefit from listing and trading.
Dr. Farid continued, “Capital markets play a key role in in the growth and development of potential companies, which contributes to providing new jobs and supporting the objectives of economic and social development plans for different economies.”
Sami Fouad, President of Marseille Almasreia Alkhalegeya for Holding Investment, said, “Moving to the main market is a step that enhances our development and competitive position and maintains the development of our business.”