QNB Says Will Not Delist NSGB From Egypt Bourse

Qatar National Bank confirmed in a release sent to the Egyptian Exchange that there is no intentions from neither the bank nor the National Société Générale Bank’s management to delist NSGB’s shares from the EGX.

The bank further added that it is currently studying the  procedures needed to adjust the conditions for assessments of the free float shares in the light of the Egyptian capital market’s rules.

In March, QNB has successfully acquired a controlling stake of 97.12% in the Egyptian subsidiary of the French Société Générale Bank (NSGB.CA).

NSGB is the second largest private bank in Egypt with 160 branches across the country, and more than 4,500 employees.