Egypt’s Tahoun postpones listing energy firm due to coronavirus

Egyptian legal firm Tahoun has postponed its plans to list one of local energy firms on the country’s stock exchange due to the coronavirus pandemic, its founder said Tuesday.

Tahoun acts as the legal adviser of the company’s IPO.

Founder and managing partner Nermine Tahoun told Amwal Al Ghad that the coronavirus crisis has affected numerous economic sectors and businesses.

“This drove us to postpone listing some of the company’s shares on the bourse. The company’s capitalisation amounts to $360 million.” Tahoun said.