Cairo – Mubasher: Trading on Madinet Nasr Housing and Development’s (MNHD) global depository receipts (GDRs) on the London Stock Exchange (LSE) has started Friday, 22 December 2017.
Earlier this month, the Egyptian Exchange’s (EGX) global depositary committee approved listing MNHD among firms allowed to convert its local stocks into GDRs.
In September, Madinet Nasr Housing’s board of directors agreed on transferring 1.5 million shares of its capital to GDRs on the LSE to be issued by the Bank of New York Mellon (BNY Mellon).
Madinet Nasr Housing’s capital amounts to EGP 997.1 over 997.1 million shares at a par value of EGP 1 per share.
