NAEEM Holding has received the approval of Egyptian Stock Exchange -listing committee approves to Capital decrease to $198.8 million from $283.9 million.

The decrease will be realized by changing the par value from initially USD 1 to USD 0.7 per share, while the outstanding number of shares will remain the same. The difference will be allocated to other reserves. The purpose of this capital decrease is to be eligible to a required ratio by Abu Dhabi authorities for the purpose of dual listing in ADX.

NAEEM Holding announced that the capital changes to be applied to EGX database effective October 31st 2016.