EGX 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.”

 

In a statement, the exchange said its listing department is currently reviewing NIRCO’s application to be listed on the small and medium enterprises market, noting that submitted documents are under examination and being finalized ahead of referral to the listing committee.

 

According to the filing, NIRCO’s issued capital stands at 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 the Egyptian Contracting Company “El Abd” to join the main market. The company’s documents are likewise under review in preparation for presentation to the listing committee.

 

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.

 

In line with regulations, the exchange will publish both listing applications for five working days, in accordance with Article 20 of the listing and delisting rules issued by the Financial Regulatory Authority.

 

The new applications come as part of a broader pipeline of state-affiliated offerings. Earlier this month, the EGX received a request to list shares of Nasr Housing and Development, with issued capital of about LE 350 million, alongside an application from Spring Manufacturing and Transport Equipment Company with issued capital of LE 125 million.

 

Separately, the Egyptian Cabinet has announced plans to begin procedures for the temporary listing of 10 petroleum sector companies, with relevant authorities tasked with setting a clear timetable to complete the process.

 

Last week, the EGX approved the temporary listing of six state-owned firms as part of efforts to expand the market and accelerate the government’s IPO program. These include Misr Mining, Alexandria Refractories, and Nasr Glass and Crystal, among others.

 

NIRCO, established in 1978, is largely owned by the public business sector, which holds a 74.17 percent stake, while total public ownership reaches about 99.17 percent. Meanwhile, El Abd, founded in 1917, operates under the Holding Company for Construction and Development, underscoring its long-standing role in Egypt’s contracting industry.