By: Abdullah Bedier

Cairo – Mubasher: Marseilia for Real Estate Investment has decided to postpone its shift from the Nile Stock Exchange (NILEX) to the Egyptian Exchange (EGX), the group’s chairman said.

The Egyptian real estate group was considering the listing on the EGX by the end of this year, but the decision has been delayed to the first quarter of 2019, Sherif Heliw told Mubasher.

He declined from revealing the postponement reason.

Heliw previously stated o Mubasher that Marseilia Group was looking to shift from the NILEX to the EGXby the end of 2018.

He added that the Egyptian developer would select a financial advisor to set the fair value of the company’s shares in mid-November.

Marseilia had received many bids from advisors, he said, noting that the company would raise its capital and start the shift procedures following the stock evaluation and setting the fair value.​

Translated by: Mai Ezz El-Din