Real estate firm Marseilia Group plans to jump from the small-cap Nilex to the EGX before the end of this year, Vice President for Commercial Sector Affairs Mysarra Ashour told us. The company is currently working on completing the paperwork it needs for the upgrade to the main market, he added, including a capital increase to meet the minimum required EGP 100 mn capital requirement for resident companies on the EGX. The company raised its capital by EGP 12 mn to EGP 72 mn in 2019, as we noted at the time.

Following in Speed Medical’s footsteps: The medical diagnostics upstart was the first company to make the jump from the small-cap index to the EGX in December 2020, and Egyptian Modern Education Systems says it wants to follow suit.

Tags: