Chairman of the Egyptian Stock Exchange (EGX) Mohammad Omran
Cairo - Arab Today
Chairman of the Egyptian Stock Exchange (EGX) Mohammad Omran on Saturday denied that trading in Telecom Egypt shares would be suspended.
Earlier, the State Commissioners Authority released a report recommending that the initial public offering (IPO) of 20 percent of TE shares in 2005 was invalid.
Omran told MENA that the authority's report is not binding to suspend companies' shares in the EGX.
He added that EGX will seek information from the TE about any court rulings on the validity of the company's IPO.