ArabFinance: The extraordinary general meeting (EGM) of National Bank of Kuwait Egypt (NBK Egypt) (NBKE) has approved the voluntary delisting of the bank from the Egyptian Exchange (EGX), according to a statement filed to the EGX.

Moreover, the EGM has endorsed the evaluation study of the bank’s stock conducted by the independent financial advisor (IFA), which has set the fair value (FV) of the stock at EGP 20.03.

The EGM also agreed on opening an account for the delisted shares and buying the shares owned by those who object to the decision of delisting.

Additionally, the EGM approved to authorize legal representatives to carry out the voluntary delisting process on the EGX.

NBK Egypt, formerly Al Watany Bank of Egypt SAE, is an Egypt-based public shareholding company engaged in the provision of corporate, retail, and investment banking services.

The bank’s financial services and products include trade finance, and commercial and residential mortgages, among others.