Exclusive: Mubarak-Era Top Gas Mogul Owns 300.000 Shares In Egypt Bourse

The Egyptian runaway Mubarak-era tycoon Hussein Salem –  has a total number of securities ranging between 280 – 300 thousand in 4 firms listed in Cairo stock exchange (EGX), senior sources informed Amwal Al Ghad on Sunday.

The sources added that the deposed president Hosni Mubarak’s closet aide owns securities in a highly prestigious firm listed in the Egyptian Exchange besides in other 3 small-and-medium enterprises.

It is worth noting that The runaway tycoon’s lawyer Tarek Abdel Aziz said his client is keen to reconcile with the Egyptian authorities and to give up half of his funds and assets in Egypt and abroad in return for dropping the charges and returning home.

Abdel Aziz further noted that if the Egyptian government approved Hussein Salem’s initiative, the tycoon would then reveal his bank accounts and the amounts of his assets in Egypt and abroad in cooperation with the country’s Central Bank.

“After the reconciliation, If the government finds out any unrevealed assets and funds, they will all be directly owned by the state.” The lawyer added