CAIRO: The Egyptian Stock Exchange administration today sent notifications to companies owned by members of the Muslim Brotherhood demanding adherence to executive regulation of stock listing procedures, said Egyptian Exchange Chairman Mohammad Omran. The Egyptian Bourse aims to attract a number of companies to be listed in the Egyptian securities market, whether they be in the main Bourse or the Nile Bourse, Omran said. The Bourse received about 8,500 lists from the Egyptian General Authority for Investment. The companies' total capital worth is between one million and 100 million and the Bourse will choose the best companies to launch shares in the indexes. The Bourse will announce shortly that ten new companies will be included in the Nile Bourse, Omran added, claiming that negotiations are underway. The Egyptian Exchange is ready to relist other companies that have been removed from the list so long as they adhere to the provisions laid out in the regulations, he said. The administration is considering listing National Investment & Reconstruction Co., which was one of the 29 companies removed during former Exchange Chairman Maged Shawki's tenure. All executive Bourse regulations regarding listing are under review in an attempt to revive the stock market, said Deputy Bourse Chairman Khaled el-Nashar.
