CAIRO: Al-Naeem Holding Company will fulfill measures to list its shares in the Cairo and Alexandria Stock Exchanges (CASE) within a maximum of two months to offer them for trading by early December 2006, a senior official at the financial investment group said on Sunday. Al-Naeem Holding is majority controlled by the Saudi Arabia Al-Naeem Group.
He pointed out that shares of the group had already been deposited at the central depository system of the CASE.
Al-Naeem Holding had in September presented an application to the CASE listing committee to list some 240 million of its shares at a total value of $240 million. In a statement by CASE, the stock market expected to list the shares in the non-official rolls after the group’s approval.
Al-Naeem Group is an Egyptian joint-stock company that has recently acquired a number of financial services and brokerage firms in the Egyptian market.