(MENAFN - Daily News Egypt) Advanced Energy Systems (ADES) plans to issue a part of its shares in the London Stock Exchange during the second quarter of 2017. The company is discussing the possibility to offer its shares locally or to cancel its registration in the Egyptian Stock Exchange (EGX). Sources told Daily News Egypt that ADES, owned by businessman Mamdouh Abbas, aims to cancel the company's registration on the EGX and to offer a part of the company's capital in the London Stock Exchange. The company asked to postpone the offering until the market conditions improve, and Beltone Financial Holding sought to offer the company at that time. Since the end of the third quarter of 2016, oil prices increased from 47 a barrel to approximately 53.7 per barrel—a growth of 14%.

Source: Daily News Egypt January 11, 2017 06:40 UTC