馃嚜馃嚞EgyptNorth Africa
Egyptian Exchange approves temporary listing of six state-owned firms
via Egypt Today2 min read
The Egyptian Exchange has approved the temporary listing of six state-owned companies, with plans to offer their shares for trading within the next six months as part of the government鈥檚 IPO program. These companies have a combined issued capital of approximately LE 1.24 billion. Four firms, Al-Nasr Housing and Development, Sinai Manganese, Spring & Transport Needs Manufacturing Co, and the Egyptian Contracting Co. AL Abd, will be listed on the main market. The remaining two, National Asset Management & Investment Company and National Investment and Development NIRCO, will be listed on the SME board. According to Hashem El-Sayed, CEO of the State Ownership Unit, these listings are part of efforts to improve the efficiency of state-owned enterprises and maximize returns on public assets. Omar Radwan, chairman of the exchange, stated that this initiative is expected to deepen the market, boost liquidity, and attract increased local and foreign investment. This follows the listing of six other state-owned firms earlier this month, as Egypt continues to expand its public offerings.
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This summary was AI-generated from a story originally published by Egypt Today.
Egypt has strongly condemned recent threats targeting Saudi Arabia, rejecting any escalation that could jeopardize the Kingdom's security or regional stability. In an official statement, the Ministry of Foreign Affairs denounced these threats as irresponsible actions that undermine regional stability, endanger international trade, and threaten maritime navigation in vital waterways. The ministry stated that these actions violate international law, the United Nations Convention on the Law of the Sea, and relevant UN Security Council resolutions. Egypt reaffirmed its full solidarity with Saudi Arabia and other Gulf Cooperation Council member states, expressing complete support for measures taken by the Kingdom to protect its security, stability, sovereignty, and territorial integrity. The statement also emphasized the importance of prioritizing political and diplomatic solutions while adhering to international legal frameworks to achieve de-escalation and maintain long-term peace in the region.
Egypt鈥檚 Minister of Foreign Affairs, International Cooperation, and Expatriates, Badr Abdelatty, met with Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates, in Abu Dhabi. The ministers praised the strong Egyptian-Emirati relations, guided by the directives of Egyptian President Abdel Fattah El-Sisi and UAE President Sheikh Mohammed bin Zayed Al Nahyan, and reaffirmed their commitment to deepening bilateral cooperation. They condemned Iranian attacks on Arab states, with Abdelatty expressing Egypt's solidarity with the UAE and GCC countries, calling for an immediate halt to escalatory actions. Both officials emphasized the importance of preserving freedom of navigation in the Strait of Hormuz and rejected efforts to restrict transit through international waterways. The meeting also included discussions on regional developments in Sudan, Palestine, Syria, and Lebanon, with an agreement to maintain close coordination for regional security and peace.
Must ReadEgypt has strongly condemned the attack on the Kuwaiti oil tanker Kifan in the Strait of Hormuz, an incident that resulted in injuries to several crew members. In an official statement, Egypt described the attack as a dangerous escalation and a flagrant violation of international law and freedom of navigation. The nation warned that such acts threaten the security of the Gulf region and the safety of international maritime trade. Egypt affirmed its full solidarity with Kuwait, supporting all measures taken by the country to preserve its security, sovereignty, and national interests. The ministry reiterated Egypt's firm rejection of any aggression targeting Arab nations or endangering global shipping corridors. Egypt urged an immediate end to all escalatory actions, calling on all parties to abide by international law and the UN Charter. The statement emphasized the critical need to prioritize diplomacy and dialogue to defuse tensions and safeguard regional stability.