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Egyptian Exchange receives new listing requests from two state-owned companies

The Egyptian Exchange EGX announced on Sunday that it has received applications to list shares of two companies affiliated with the Ministry of Public Business Sector: the National Investment and Development Company NIRCO and the Egyptian Contracting Company “El Abd.” The EGX's listing department is currently reviewing NIRCO’s application for the small and medium enterprises market. NIRCO's issued capital is approximately LE 45 million, divided into 9 million shares with a nominal value of LE 5 per share. The EGX also confirmed receiving a listing request from El Abd to join the main market. El Abd’s issued capital amounts to around LE 369.43 million, distributed over 73.89 million shares at a nominal value of LE 5 per share. Both applications will be published for five working days in accordance with Article 20 of the listing and delisting rules. These applications are part of a broader pipeline of state-affiliated offerings, following earlier requests from Nasr Housing and Development and Spring Manufacturing and Transport Equipment Company. The Egyptian Cabinet also plans to begin procedures for the temporary listing of 10 petroleum sector companies. Last week, the EGX approved the temporary listing of six state-owned firms, including Misr Mining, Alexandria Refractories, and Nasr Glass and Crystal. NIRCO, established in 1978, is largely owned by the public business sector, holding a 74.17 percent stake, with total public ownership reaching about 99.17 percent. El Abd, fou