MFIN to Be Delisted For Failing to Abide By EGX’s Rules

The Listing Committee of EGX  has decided on the delisting of the shares owned by Misr Financial Investments (MFIN) for failing to abide by the rules. This decision shall come into effect starting from the session set on April 5th as the company’s data will be omitted from the EGX trading’s database. MFIN’s shares shall be listed on the spot market.

This decision made amid the MFIN board of directors insisted on not fulfilling the financial, legal and disclosure rules pertaining to EGX listing rules and capital market law which asked for freely floating of 10% of its shares. The company failed to free float, while it has managed to increase its issued capital to exceed L.E 20 million.

Misr Financial Investments (MFIN), established on 01 May 1984,  works in promoting and underwriting security subscription; cofounding companies issuing securities or increasing their capitals as well as forming and managing portfolios of securities and venture capital.