The Egyptian Modern Education Systems Moves to Main Market
09/06/2022
The
Egyptian Exchange (EGX) celebrated the 215th listing in its main
market today, The Egyptian Modern Education Systems Company, bringing the total
number of listed companies to 241 companies.
The Egyptian Modern Education Systems Company moved its shares from the
SMEs market to the main market with paid in capital of EGP 100.5 million
representing one billion shares with a par value of EGP 0.1 per share. The
opening price in the main market will be the last closing price for the
company's shares in the SMEs market.
The ringing of bell ceremony for this
occasion was attended by the management of the listed company, officials from
Ostool Securities Trading Company along with the President of the Egyptian
Stock Exchange Dr. Mohammed Farid and the leaders of the stock exchange.
The
Egyptian Modern Education Systems company is the 3rd company to move
its shares from the SMEs market to the main market, a step that reflects the
growth rate of companies through the financial markets. Listing through the capital market also
helped them implement their business development plans and achieve their
targets. During its listing period in the SMEs market, the company achieved
growth rates exceeding normal, where its capital, number of shareholders and
free trading ratio as well as activity revenues increased remarkably.
Dr.
Mohammed Farid, Executive Chairman of EGX, said that start of trading today in
the main market coincided with the comprehensive structuring plan adopted and
implemented by EGX with all related parties to the development of this market.
This opened the way and motivated companies to take advantage of listing,
offering and trading, pointing out that the management of the stock exchange
continues to follow up on the implementation of the structuring plan to achieve
the previously announced targets of qualifying and developing restricted
companies as well as work to enhance market liquidity to attract foreign and
domestic investments.
Dr.
Walid Yousef, Chairman of the Egyptian Modern Education Systems Company, said,
"Moving the company's shares to the main market is a step that enhances
our competitive position and supports our business development plans."