Cairo – Mubasher: Amer Group Holding on Sunday said it received an approval from the Egyptian Financial Supervisory Authority (EFSA) to issue global depository receipts (GDRs) on the London Stock Exchange (LSE).

The GDRs, which may include a conversion of shares to GDRs, will not exceed a third of the company’s issued and paid up capital, Amer Group said in a statement to the Egyptian Exchange (EGX).

The shares in question may not be subject to a legal dispute or some kind of mortgage, the EFSA stated.

It is worth noting that a total of 15 companies listed on the EGX have issued GDRs, including the Commercial International Bank – Egypt (CIB), EFG Hermes, Telecom Egypt, and Orascom Telecom Media and Technology (OTMT).