Cairo – Mubasher: The Egyptian Exchange (EGX) approved a request by the Egyptian Company for International Touristic Projects (Americana Egypt) to proceed in delisting its shares from the bourse.

The company will delist 400 million shares at a value of EGP 400 million, according to a bourse statement on Wednesday.

The request will be submitted to the listing committee after executing the acquisition transactions of the shares of those who object to the delisting. 

During the first six months of 2020, Americana Egypt’s net losses widened to EGP 190.5 million from EGP 1.41 million in the prior-year period.