CAIRO, June 21 (Reuters) - Taqa Arabia, an energy firm partly owned by Egyptian private equity group Citadel Capital, will list its shares on the Egyptian stock exchange in October, the independent Al Masry Al Youm newspaper said on Sunday.
The paper quoted Khaled Abu Bakr, the company's managing director, saying Taqa would begin listing procedures in August.
'The company is looking to list its shares on the exchange for more transparency and disclosures and to facilitate transfer of ownership and expansions,' Abu Bakr said.
The firm has a paid up capital of 615 million Egyptian pounds ($110 million) and an authorised capital of 10 billion pounds, the paper said.
Taqa is 65 percent owned by investors from Saudi Arabia and the United Arab Emirates and 35 percent by Citadel Capital.
Abu Bakr said 5 percent of the firm could be traded, without giving further details.
($1 = 5.6025 Egyptian pounds)
(Writing by Maha El Dahan; Editing by Alex Richardson) Keywords: EGYPT TAQA/LISTING (maha.dahan@reuters.com; Cairo newsroom +20 2 2578 3290/1) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The paper quoted Khaled Abu Bakr, the company's managing director, saying Taqa would begin listing procedures in August.
'The company is looking to list its shares on the exchange for more transparency and disclosures and to facilitate transfer of ownership and expansions,' Abu Bakr said.
The firm has a paid up capital of 615 million Egyptian pounds ($110 million) and an authorised capital of 10 billion pounds, the paper said.
Taqa is 65 percent owned by investors from Saudi Arabia and the United Arab Emirates and 35 percent by Citadel Capital.
Abu Bakr said 5 percent of the firm could be traded, without giving further details.
($1 = 5.6025 Egyptian pounds)
(Writing by Maha El Dahan; Editing by Alex Richardson) Keywords: EGYPT TAQA/LISTING (maha.dahan@reuters.com; Cairo newsroom +20 2 2578 3290/1) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.