The FINANCIAL - London Stock Exchange welcomes Egypt’s Orascom Telecom Media & Technology to Main Market

London Stock Exchange welcomes Egypt’s Orascom Telecom Media & Technology to Main Market

26/06/2012 03:49 (332 Day 22:28 minutes ago)

The FINANCIAL -- London Stock Exchange welcomes Orascom Telecom Media and Technology to its Main Market.

The company has listed Global Depositary Receipts (GDRs).

According to London Stock Exchange, the firm was the first MENA region company to use LSE’s Admitted to Trading Only facility, and has now graduated to a full listing of GDRs on the LSE.1

To mark the listing Khaled Bichara, Chief Executive Officer of OTMT, joined Alastair Walmsley, Head of Equity Primary Markets at the LSE, to open trading in London this morning.

Alastair Walmsley, Head of Equity Primary Markets at the LSE, said:

“This listing demonstrates continued investor appetite for Egyptian companies in London. Orascom TMT will benefit from the heightened profile, unrivalled liquidity and investor access that a GDR listing on the LSE offers.”

Egyptian companies have raised £1 billion on the LSE since 2000. In the last twelve months the value of trading in Egyptian securities was £5.2 billion.

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