City Trade Mulls Listing in NILEX
City Trade for Securities & Brokerage has chosen NILEX’s Nominated Advisor, First for Financial Consultancy so as to be listed in the Egyptian Exchange of the small and medium enterprises (SMEs).
Ezzat Abdel Badei, the managing director at City Trade, said the company plans to issue IPOs of 10% of its stakes (27 million securities).
“City Trade will raise its capital to EGP 30 million from EGP 27 million. It will re-open 11 branches which have been closed during the revolution.” Abdel Badei told Amwal Al Ghad
The City Trade branches which will be re-opened located in Hurghada, Nasr City, Fayoum, Alexandria, Heliopolis, 10th of Ramadan, Tanta, Maadi, Assiut, and Mansoura.
