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EGX approves delisting of NBK Egypt

EGX approves delisting of NBK Egypt

ArabFinance: The Egyptian Exchange’s (EGX) Listing Committee has approved the final de-listing of National Bank of Kuwait Egypt’s (NBK Egypt) (NBKE) shares, according to a statement.

Purchase transactions have been carried out on 20.718 million shares of the bank’s issued capital at a price of EGP 20.03 per shares through the special operations market during the period starting January 25th until February 1st.

The bank has an issued capital of EGP 5 billion distributed over 500 million shares at a nominal value of EGP 10 per share.

The committee also approved the deletion of the bank’s data from the EGX’s database as of Thursday, February 10th.

Thereby, the bank’s shares will be listed in the over-the-counter (OTC) trades market as of Sunday, February 13th, with access to trade on the shares under the OPR system to continue the purchase process of the remaining shares at a fair value of EGP 20.03 per share for a six-month period as of February 13th.

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