Etisalat Egypt, a local unit of UAE operator Etisalat, is studying options to list its shares either on the Egyptian bourse or another stock exchange.
The review period is expected to end soon “especially after the positive indicators that the…
Etisalat Egypt, a local unit of UAE operator Etisalat, is studying options to list its shares either on the Egyptian bourse or another stock exchange.
The review period is expected to end soon “especially after the positive indicators that the Egyptian bourse has witnessed lately”, the operator said in a statement cited by Reuters.
The company could not be reached to confirm the information.
Earlier this year, the country’s financial regulator introduced new rules to encourage trading on the bourse, which has not seen a major IPO since 2010 against the backdrop of political instability.
A few weeks ago, the Egyptian bourse surged to a five-year high after local reports indicated a new presidential election law might soon be introduced.
Etisalat competes against Vodafone and Orange’s Mobinil in Egypt. Landline monopoly Telecom Egypt, which has a 45% stake in Vodafone, is expecting to soon receive a licence to provide mobile services too.
