EGX to list 3 petroleum companies with total capital of LE8.5 bn

The Egyptian Exchange (EGX) is coordinating with three new companies belonging to the petroleum sector to become listed on the Egyptian Exchange during the coming period, with a total capital of more than LE8.5 billion, EGX said in a statement on Tuesday.

The companies are The Middle East for Oil Refining Company (MIDOR) with a capital of US$1.1 billion, Gaz Cool Company with a capital of LE125.5 million and Nile for Oil Marketing Company with a capital of LE50 million. 

EGX Chairman Mohammad Omran said that listing such companies is an important addition to the Egyptian capital market, indicating his wishes that more state-owned companies would depend on the EGX with regards to their investments and future expansions.

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