Pyramids Capital Awaits EFSA’s Approval For Optional Delisting From EGX

Pyramids Capital Securities Brokerage (NOUR.CA) announced Sunday that all the procedures for the optional delisting of the company’s stock from the Egyptian Exchange (EGX) have been completed. The company awaits now for the Egyptian Financial Supervisory Authority (EFSA)’s approval which is likely to be obtained within the coming days.

Pyramids Capital General Manager Mohamed El Gohary  asserted that the optional delisting from the EGX will not harm the minority’s interests as they are from the staff and have no intentions of selling the shares to the company after delisting.

The main reasons behind Pyramids Capital’s delisting its stock are the EFSA’s tight restrictions on trading securities in the EGX and the bourse’s multiple procedures, requirements and disclosure requests alongside the various fines imposed against the EGX-listed firms, El Gohary noted.