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Al Salam Group’s shares on DFM, EGX exceed 40%

Al Salam Group’s shares on DFM, EGX exceed 40%
The Egyptian Exchange
ALSALAM
ALSALAM
1.47% 27.70 0.40

Mubasher: Al Salam Group Holding clarified that the shares listed on the Egyptian Exchange (EGX) total 34.039 million shares or 12.624% of the overall issued shares.

Furthermore, the Kuwaiti company said that its shares listed on the Dubai Financial Market (DFM) currently stand at 107.355 million shares that represent 39.814% of the issued shares.

Thus, Al Salam Group’s external listing accounts for 141.394 million shares of the total 269.640 million issued shares; this represents 52.438% of the total, the company said in a bourse disclosure on Thursday.

Al Salam Group further noted that this percentage is above the 40% authorised amount as regulated by the Capital Markets Authority (CMA) of Kuwait in terms of the number of shares listed on stock markets outside the country.

Therefore, Al Salam group called for halting any transactions that include shares transfer from the Kuwaiti clearance to the DFM and the EGX, until the external listing’s percentage is lowered within authorised amount. Meanwhile, it is allowed to transfer shares from the DFM and the EGX to Boursa Kuwait until the end of fiscal year, 31 December 2019.