FRA expects trading on “Nahr Al-Khair” shares to start this week

CAIRO - 17 January 2022: Nahr Al-Khair Company for Development and Investment is expected to be offered on the Egyptian Exchange (EGX) during this week, according to Head of the Financial Regulatory Authority (FRA) Mohamed Omran.

This came during the annual conference of the FRA, held Monday.

The Egyptian Stock Exchange's listing committee had agreed at the end of last December to list the shares of Nahr Al-Khair Company, with an issued capital of LE 200 million, divided into two billion shares, with a nominal value of 10 piasters per share.

The EGX clarified that trading on the company's shares will start after publishing the disclosure report for the purpose of trading approved by the FRA in two widely circulated morning newspapers.

The committee agreed that the company's shares will be listed on the stock exchange database as of Sunday, January 02, 2022.

The committee also agreed that the company’s position would be presented to the Operations Committee to determine the opening price and the start date of trading on the company’s shares, bearing in mind that all disclosures and financial statements submitted by the company and a study of the fair value of the share, accompanied by the auditor’s report on the advertisement screen on the Egyptian Stock Exchange, should be published before the start trading.

The committee also agreed that the company should be housed in the services sector, industrial products and cars, in light of the fact that the majority of the company's activity revenues result from the practice of environmental services.