Cairo – 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.
About TAQA Arabia:
TAQA Arabia (A Qalaa Holdings Company) is the leader group in energy distribution and its integrated services in Egypt and MENA, serving more than 1.7 million domestic, industrial, tourist, and commercial customers with their daily needs of natural gas, electricity, renewable energy, petroleum products, and water in 50 Egyptian cities.
TAQA Arabia invests, constructs, and operates and maintains energy infrastructure including gas transmission & distribution in 8 governorates, conventional and renewable power generation & distribution, water treatment and desalination services in many governorates, as well as marketing oil products and lubricants throughout several retail fuel stations across the country throughout “TAQA” stations”.
Through "Master gas" stations, operates extensive number of CNG stations and conversion centers, as well as providing off-grid customers with Mobile CNG services to deliver gas to areas far outside gas networks across Egypt and the region.