Petroleum Marine Services moves closer to EGX main market listing

The Egyptian Exchange has received an application from Petroleum Marine Services to list its shares on the EGX main market, as the company begins the formal procedures required for the listing of new companies.

In a disclosure issued on Thursday, the EGX said the request was submitted to its Listing Department on June 11, 2026. The exchange is currently reviewing the documents provided by the company and completing the necessary requirements before referring the file to the Listing Committee for a final decision.

The company’s issued capital proposed for listing amounts to nearly $120 million, divided into 12 million shares at a nominal value of $10 per share, according to the disclosure.

The EGX added that the listing request announcement will be published for five working days from the date of submission, in accordance with Article 20 of the Listing and Delisting Rules issued by the Financial Regulatory Authority’s Board of Directors under Resolution No. 11 of 2014 and its amendments.

The move represents an initial step toward listing Petroleum Marine Services on the EGX main market, pending the completion of all regulatory requirements and approval from the Listing Committee.

Petroleum Marine Services is one of the leading companies affiliated with the Egyptian General Petroleum Corporation in Egypt and the wider Middle East. The company operates as a main contractor and service provider in offshore and marine contracting, mainly serving the oil and gas industry.

The development comes as the government continues its efforts to prepare a number of state-owned companies for listing on the EGX. Authorities have completed the review of several companies that were previously affiliated with the public business sector, paving the way for the listing of 20 companies.

So far, 12 companies have been listed, while eight others are being prepared for temporary listing. Another 10 petroleum sector companies are also being prepared for temporary listing, according to previous remarks by Hashem El-Sayed, Assistant to the Prime Minister and CEO of the State-Owned Companies Unit.

In April, the EGX approved the temporary listing of six state-owned companies as part of efforts to expand the number of listed firms and accelerate the implementation of the government’s IPO program.

The approved companies included Misr Mining, Alexandria Refractories, El Nasr Glass and Crystal, and the Egyptian Ferroalloys Company, which is affiliated with the Holding Company for Metallurgical Industries.

The list also included the Egyptian Company for Pipes and Cement Products and El Nahda Industries, both affiliated with the Holding Company for Chemical Industries.