Kuwait’s Al Salam to List on Egypt Bourse by Q1 – Chief

Kuwait-based Al Salam Group Holding is expected to list its shares on Egypt’s bourse before the end of the first quarter of 2014, the Kuwaiti Al-Rai newspaper has quoted the Chairman of the Egyptian Exchange (EGX) Dr. Mohamed Omran as saying.

The Kuwaiti company is currently completing listing procedures, he added.

The top official further stated that Al Salam will hold an extraordinary general meeting to approve listing the stock, as well as converting shares into Egyptian Depository Receipts (EDRs) and adjusting its accounting system to comply with what is applicable on EGX.

In October, Omran has announced that the bourse management officially approved a request from Al Salam Group Holding to list its shares, adding that the group’s shares are expected to start trading late this year or early in 2014 at most.

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.

*The story has been edited and translated by Amwal Al Ghad English.