Sigma Capital

18-09-2024

Listing the Shares of Heibco for commercial investments and real estate development (HBCO.CA) (SMEs Market)

Source: EGX

The listing committee held on 18/09/2024 has approved to list the shares of Heibco for commercial investments and real estate development (temporary listing) With an issued capital of EGP 40 million, distributed over 40 million shares, with a nominal value of EGP 1.00 per share, represented in one issuance in the Egyptian Securities Listing Schedule (Shares) — “SMEs Market”, in accordance with Articles (1) bis, (6), (9),(18) and (19) of the Rules for Listing and Delisting securities on EGX.
· The company is committed by the provisions of Article 138 of the Executive bylaws of Law No. 159 of 1981 to complete the registration procedures and approving the disclosure report for the purpose of trading from the Financial Regulatory Authority (FRA), within six months from the date of temporary listing, In implementation of Article (1) bis of the Listing Rules.
· Trading on companys shares will not start until the company publish the disclosure report for the purpose of trading approved by (FRA) on the announcement screens and the website of the Stock Exchange.
· In all cases, the companys shares shall not be traded during the period from the date of the temporary Listing until the start of trading of these shares, except with the approval of (FRA). The temporary Listing shall be considered as if it did not exist , in case of the company does not implement its share offering and fulfill the conditions and requirements for final listing within six months from the date of temporary listing.
· This deadline may be extended with the approval of (FRA) in cases it deems appropriate based on the justifications and time plan provided by the company, in implementation of the third paragraph of Article (9) of the Listing Rules.
· The company throughout the temporary Listing period, adheres to the obligations stipulated in clauses (1 to 4) of Article (48) of these Rules.
· Each major shareholder and/or his substitute from the rest of the companys shareholders upon listing shall be obligated to retain at least (51%) of their own stake in the companys share capital and a minimum of (25%) of the total shares required to be listed to be Locked —Up , in case they are available, and if their stake accordingly are less than (25%) of the companys issued capital share, the (25%) are completed from the stakes of the members of the Board of Directors and the founders of the company or other shareholders.
· Such Locked —Up shares shall be for a period of not less than (24) months , together with the issuance of the periodic financial statements for two fiscal years from the date of listing at the stock exchange, and in all cases (25%) of the companys shares shall continue to be retained for the following fiscal year, provided that the same conditions of retention shall apply to any subsequent increase in the companys capital, except for stock dividend.
· The company’s shares shall be added on EGX’s database under the sector of " Engineering Contracting and Construction” as of Monday 23/09/2024 trading session.
· The company shall be committed to increasing its capital during the year 2025 , in accordance with its business plan approved by its nominated advisor, in implementation of item (6) of Article (9) of the Listing Rules.