Naeem to list on Abu Dhabi exchange

“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.



Naeem Holding for Investments has received approval from the UAE’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 Mohamed Mursi.

Compiled from agencies


More news from Local Business