EGX Approves Temporary Listing of NAMI and NIRE on the SMEs Market with EGP 100M Capital
The Egyptian Exchange (EGX) Listing Committee has officially approved the temporary listing of two real estate firms on the Small and Medium Enterprises (SMEs) market. The National Company for Asset Management and Investment (NAMI) and Al-Ahliya for Investment and Construction – NIRCO (NIRE) will be added to the database starting next Sunday, with a combined issued capital of EGP 100 million.
NAMI enters the real estate sector with an issued capital of EGP 55 million, distributed over 11 million shares at a par value of EGP 5 each. Meanwhile, NIRCO has been listed with EGP 45 million in capital, represented by 9 million shares. Both companies are required to fulfill Financial Regulatory Authority (FRA) requirements and commence their Initial Public Offerings (IPOs) within six months. To ensure market stability, major shareholders owning 10% or more are mandated to retain their stakes according to EGX listing rules until the post-trading requirements are fully met.