Egypt's EGX approves delisting of Nile Cotton Ginning's shares

A total of 52.992mln shares will be delisted

Cairo –  The Egyptian Exchange’s listing committee (EGX) approved the delisting of the shares of Nile Cotton Ginning.

A total of 52.992 million shares with an issued capital of EGP 264.96 million at a nominal value of EGP 5 apiece will be delisted as of the end of the trading session on 10 June, the EGX said in a statement on Wednesday.

The shareholders who are affected negatively by the voluntary delisting decision can sell their shares for EGP 50 per share through the OPR system from the second day following the issuance of the decision until 2 August.

During the first quarter (Q1) of fiscal year (FY) 2020/2021, Nile Cotton Ginning turned to net losses of EGP 3.23 million, against net profits of EGP 467,172 in the year-ago period.

Source: Mubasher

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