UAE Firm Seeks to Cross List Shares on Egypt Bourse – Chief

The Egyptian Exchange Chairman Mohamed Omran announced on Thursday ongoing talks with a Kuwait-based firm over listing its shares as ADRs along with anticipated negotiations with a UAE-based firm to discuss cross-listing process.

In a keynote interview at the second day of the Gulf-Egyptian Investment Forum held in Cairo to allure GCC investors to Egypt market, Dr. Omran said the EGX is currently negotiating with one of the leading Kuwaiti firms so as to list its shares as ADRs. He noted that the Egyptian bourse’s negotiations with the Kuwaiti firm are in their final stage.

He further referred to the EGX’s planned meeting with a UAE firm to discuss the cross-listing procedures within the upcoming period.

Moreover, the top official has stated that the EGX is also holding talks with a number of Gulf firms, which have their prominent presence in the Egyptian market, seeking to enlist their shares on the bourse which would affect the market volumes and turnovers.