EGX in ‘serious’ talks to list 3 public oil sector firms with 8.5B EGP capital
Egyptian Exchange - YOUM7 (Archive)

CAIRO: The Egyptian Exchange (EGX) announced in a Tuesday statement that it is seeking to list three oil public sector companies in the coming period, with total capitals worth up to 8.5 billion EGP ($1.11 billion.)

The three state-owned companies are: the Middle East for Oil Refining Company (MIDOR) with a 8.39 billion EGP capital, Gaz Cool Company with a capital of 125.5 million EGP, and the Nile for Oil Marketing Company with a capital of 50 million EGP.

“Listing such companies is an important addition to the Egyptian capital market, and I hope that more state-owned companies depend on EGX with regard to their investment and expansion future plans,” EGX Chairman Mohammad Omran said in the statement.

Egypt has not listed state-owned firms on the EGX since 2005, when Telecom Egypt, Sidi Kerir Petrochemicals and Alexandria Mineral Oils Company offered their shares.

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