News Details
Commencing The Trading Of MM For Industry And International Trade
The Egyptian Stock Exchange (EGX) welcomes on Tuesday, the 205th company among its main market: MM for Industry and International Trading under the symbol (MTIE.CA) at LE 5.96/share. An opening of a trading session at 10:00 AM in the presence of Dr. Sahar Nasr, Minister of Investment and International Cooperation, Dr. Mohamed Omran, EGX Chairman, in addition to MM Chairman.
Trading commenced on the company's shares after the private placement was covered 19.27 times with a value exceeding LE 2 billion.
In this occasion, Dr. Sahar Nasr, Minister of Investment and International Cooperation highlighted the efforts of the non-banking financial sector and their contribution within the country plans to develop the investment climate by increasing financing tools for the companies to help them to expand and grow. From his part, Dr. Mohammed Omran said EGX continues its effort to strengthen the market by listing companies from different sectors in order to contribute to the development of the Egyptian economy through helping companies to expand and grow.
He also pointed out that EGX continues its effort, which coincided with the development in the listing structure, topped in EGX efforts in contributing to the company’s plans to develop the investment climate in general.
In line with this, Khalid Mahmoud, MM Group Chairman, stated that the offering reflected positively the confidence of investors and financial institutions in the company. It also showed their faith in the share, adding that the company seeks to invest LE 1 billion in 18 months and targets sales of LE7 billion by the end of this year.
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