Mubasher TV
Contact Us Advertising   العربية

Seven EGX-listed firms deny ties with Abraaj

Seven EGX-listed firms deny ties with Abraaj
Photo Archive
Global Telecom
GTHE
5.59% 1.89 0.10
Egypt Gas
EGAS
-2.63% 35.52 -0.96
Misr Chemical Industries
MICH
-2.60% 36.03 -0.96

Cairo Oils & Soap
COSG
-1.41% 0.21 -0.00
Edita
EFID
-2.86% 31.98 -0.94
Nasr Co for Civil Works
NCCW
-3.35% 5.20 -0.18

IBC
IBCT
-10.00% 1.54 -0.15

Cairo - Mubasher: A number of Egyptian companies continued to deny any ties with Abraaj Capital.

Seven companies negated having any ties with Abraaj, namely Cairo Oil and Soap, International Business Corp, Global Telecom, Edita, EGAS, Kima, and Nasr for Civil Works, as shown by statements presented to the Egyptian Exchange (EGX) on Tuesday.

The Emirati private equity company has been facing allegations of money misuse in its $1 billion healthcare fund. In June, the Dubai-based investment firm filed for bankruptcy.

It is reportedly undergoing a mega-restructuring plan.

Several companies, particularly those listed in the UAE, have disclosed their exposure to Abraaj as per a circular issued by the Securities and Commodities Authority (SCA).

Such companies included Air Arabia’s AED 1.2 billion exposure, Al Qudra Investments, and Commercial Bank of Dubai (CBD).

Analysts previously told Mubasher that companies’ disclosures of the level of their exposure to Abraaj would boost investor confidence in the markets.