News

Egypt’s EGX Approves Listing of TAQA Arabia’s Shares

with EGP 676,176,900 Capital

 

Cairo – June 2023: The Egyptian Exchange's (EGX) listing committee approved listing the shares 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 Egypt Listed Securities. TAQA Arabia’s shares shall be added to EGX database as of Sunday 4th of June 2023, under the ticker symbol (TAQA.CA), and it will be allocated 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 Eng. Khaled Abu Bakr, Chairman 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.

 

EGX Executive Chairman, Rami El-Dokany, said: "The listing of TAQA Arabia represents the culmination of our efforts in attracting private sector companies with strong fundamentals operating in resilient sectors positively affected with Egyptian economy dynamics. 

 

El-Dokany congratulated TAQA Arabia Board of Directors and top management appreciating their exerted efforts during the listing process, which reflects their strong belief in the importance and advantages of listing; especially easy access to finance.