Cairo – Mubasher: MB for Engineering and Contracting (MBEN) said Sunday its extraordinary general meeting approved a proposal to list the company’s stock on the Egyptian Exchange (EGX).

The listing plan was submitted to the Egyptian Financial Supervisory Authority (EFSA) on 9 September.

The EGM also ratified the fair value of EGP 5.95 per share, which was prepared by the independent financial advisor.

The company earlier posted 27% growth in net profit for the first nine months of 2015 to EGP 5.04 million, up from EGP 4 million in the prior-year period.