Press releases 2012
London Stock Exchange welcomes Egypt’s Orascom Telecom Media & Technology to Main Market
- Egyptian telecommunications firm lists GDRs
- 12th Egyptian company quoted on LSE
London Stock Exchange (LSE) today welcomes Orascom Telecom Media and Technology (OTMT) to its Main Market. The company has listed Global Depositary Receipts (GDRs).
The firm was the first MENA region company to use LSE’s Admitted to Trading Only (ATT-Only) facility, and has now graduated to a full listing of GDRs on the LSE.1
To mark the listing Khaled Bichara, Chief Executive Officer of OTMT, joined Alastair Walmsley, Head of Equity Primary Markets at the LSE, to open trading in London this morning.
Alastair Walmsley, Head of Equity Primary Markets at the LSE, said:
“This listing demonstrates continued investor appetite for Egyptian companies in London. Orascom TMT will benefit from the heightened profile, unrivalled liquidity and investor access that a GDR listing on the LSE offers.”
Egyptian companies have raised £1 billion on the LSE since 2000. In the last twelve months the value of trading in Egyptian securities was £5.2 billion.
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Notes to editors:
1. ATT-Only allows issuers’ securities to trade on LSE’s markets without taking up a full quotation. For full details of this facility click here.
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