ArabFinance: The United Media Services Company (UMS) plans to list a 20-30% stake on the Egyptian Exchange (EGX) by 2024, the company said in a press conference.

The listing would raise the companys capital and assist its expansion plans

The group did not provide further detail regarding the share sale.

Furthermore, the group plans to launch a regional news channel in three language: Arabic, English, and French.

Former Arab African International Bank CEO Hassan Abdullah was named the new Chairman of the company, succeeding industry veteran Tamer Morsi, who will remain on the board.

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