Kuwait’s Al-Salam Group Holding Seeks to Cross-list Shares on Egypt Bourse

A Kuwait-based public shareholding company engaged in investment activities Al Salam Group Holding Company KSCC (ALSALAM) (SAGH.KW) announced on Monday its ongoing contacts with the Egyptian Exchange (EGX) and the Egyptian Financial Supervisory Authority (EFSA), seeking to know the necessary procedures to cross-list its shares on the Egyptian bourse.

This comes after Al Salam Group had reported on August 20 of this year preparing a feasibility study so as to cross-list its shares on a number of stock exchanges, including the Egyptian stock market.

It is worth noting that Al-Salam Group Holding Co KSCC announced on September 19 that it had received an approval from Dubai Securities and Commodities Authority to cross-list its shares on the DFM starting September 29, 2013 under the bourse code of (Alsalamkw), to mark an increase in the number of Kuwaiti firms cross-listing on the Dubai bourse to 8.

About the Company:

The company is engaged in owning shares in other companies, participating in the establishment, lending, and managing of these companies. It also owns patents, trademarks, royalties or any other rights related to the industry. The industrial patent rights are franchised to other companies. The company also has substantial investments in real estate & movable property for carrying out its operations.

Company Overview*

* Data has been compiled from Al ALSALAM holding company’s official website.