Prime Holdings To Complete Listing Procedures For Two Firms By 2013

Prime Holdings and Investments (PRMH.CA) said it plans to complete Egyptian Exchange (EGX) listing procedures for a firm working in the food industries by the beginning of next year.

Mohamed Maher, Deputy Chairman, said Prime Holdings currently studies the strategies to make the firm comply with the Egyptian market’s requirements and rules so as to eventually get listed in the EGX by the beginning of 2013.

Maher added that the company is also restructuring another firm working in the medical industries field so as to eventually get listed in the Egyptian Exchange for SMEs – NILEX.

Maher expected that the restructure process as well as the listing shall be completed by 2013 so that there would be more clarity in the economic and political arenas.

Moreover, Maher said Prime is studying the establishment of investment funds compliant with the provisions of Islamic law within the last quarter of 2012.

He said those funds are witnessing growing demand. Therefore, the company has started considering the establishment of those funds within Q4/2012.

“They will contribute to having more investors who are interested in dealing with those types of funds that are compliant with the provisions of Islamic law.” Maher added

“The company has not agreed yet on the capital value for the funds which will be launched by Q4/2012.”