Taqa Arabia’s shares will start trading on the EGX in two weeks, Asharq Business reported yesterday, citing sources with knowledge of the matter. The Qalaa Holdings subsidiary is preparing to sell a stake directly to investors in what would be the bourse’s first public share sale this year.

Remember:The EGX this week gave the greenlight for the company to list its shares on the exchange, kickstarting a six-month period during which it has to meet the bourse’s listing requirements and obtain regulatory approvals. The company will submit its fair value report and other documents to the Financial Regulatory Authority (FRA) “within hours,” one of Asharq’s sources reportedly said. Trading will take place under the ticker TAQA.CA.

About the company: Taqa Arabia is one of the country’s leading energy distribution and utility companies, with operations spanning gas transmission and distribution, power, renewable energy and water. The company has EGP 676.2 mn of capital split between 1.352 bn shares with a nominal value of EGP 0.5 each. Qalaa owns about 55% of the company, with the remaining shares split between at least 300 other shareholders, according to Asharq’s sources.

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