Egypt's Naeem Holding to cross-list on Abu Dhabi exchange | Reuters:
"Naeem Holding for Investments has received approval from the United Arab Emirate's financial regulator to list on the Abu Dhabi exchange, the firm said, a further sign of closer economic ties between Egypt and the Gulf.
"Coordination is ongoing with the Abu Dhabi market and the necessary measures for receiving the approval of the Egyptian Financial Supervisory Authority are being taken," Naeem Holding said in a statement late on Monday.
It gave no further details of the timing or size of the listing.
Countries like the UAE, Saudi Arabia and Kuwait came to Egypt's aid last year - pledging more than $12 billion to help its ailing economy - after the army overthrew the country's first elected leader Mohamed Mursi following mass protests against him. The Gulf largely mistrusts Mursi's Muslim Brotherhood group, labeled a terrorist group in Egypt last year."
'via Blog this'
No comments:
Post a Comment