CAIRO: The United Media Services group, owner of several well-known Egyptian newspapers and channels, announced its plans to list its shares on the Egyptian stock exchange.
The announcement came during a press conference held by the group, under the slogan “Five Years of Development,” in which it delineated its future plans, which include steps to prepare for the company’s listing and to form a special committee for investment.
The company’s board members include Tamer Morsi, Amr El-Fekky, Ashraf Salman, Mohammed Al-Saadi and Mohammed Samir.
The company announced its plan to launch a modern regional news channel, the appointment of an advisory body of public figures in various fields from outside the company, the signing of a number of cooperation protocols with professional unions, and the establishment of a fund to sponsor workers in the field of media.
Hossam Saleh, the United Media Services official spokesman, said that the company has implemented many initiatives as part of its social responsibilities, including the “Decent Life” initiative, the “Stay Home” campaign and the United Fund to care for workers in media, in cooperation with the Supreme Council for Media Regulation.
Saleh pointed out that corporate governance is one of the most important standards and an essential component of promoting financial success.
He said the company works to create procedures and structures, which are used to manage the affairs of various companies in order to prevent corruption and ensure transparency and accountability for shareholders in the long term, taking into account the interests of different parties.
He added that the company has succeeded in achieving significant financial gains in drama productions during the month of Ramadan, as its profits during 2021 amounted to 256 million Egyptian pounds ($16 million), compared to losses of 469 million Egyptian pounds during 2017.