By: Ahmad Awad

Kuwait-Mubasher: Al Salam Group Holding plans to expand in the Egyptian market during the coming period, mainly in the real estate and energy sectors, said Chairman Mushari Al Majed.

Total investments of Al Salam’s subsidiaries in Egypt stood at KWD 80 million ($265 million), the chairman added on the sidelines of the ordinary general meeting held Tuesday.

It’s just a matter of time before floating the company as Al Salam completed all the regulatory procedures to trade in the Egyptian Exchange (EGX) through offering depository receipts, Al Majed said.

The Kuwait and Dubai-listed firm said that the Kuwaiti regulator approved in March Al Salam’s new listing request, provided that the overall shares listed on both DFM and EGX are not more than 40% of capital.