The Egyptian Exchange’s (EGX) listing committee has approved the listing of TAQA Arabia, the full-service energy and utility provider in Egypt, with an issued capital of EGP 676,176,900.
A total of 1,352,353,800 shares at a nominal value of EGP 0.50 apiece will be listed in EGX.
TAQA Arabia’s shares shall be added to EGX database as of Sunday 4 June 2023, under the ticker symbol (TAQA.CA), and it will be placed in the utilities sector.
“The authorization of listing TAQA Arabia’s shares today is a testament to our profound confidence in the Egyptian economy and its future growth,” said Khaled Abu Bakr, Chairperson of TAQA Arabia. “This floatation is the culmination of over 9 years of stability, accomplishments and reforms in the Egyptian energy sector, as well as 25 years of experience and success for TAQA Arabia.”
“Proceeding from Cairo, we are keen on scaling up our investments, services and project portfolio in Egypt and the region. This requires finding sources of financing and increasing the group’s capital in the coming period,” Abu Bakr added.