Madinet Masr, one of Egypt’s leading urban developers, will trade under the new stock ticker MASR.CA starting on August 22 after receiving approval from the Egyptian Exchange’s listing committee, Invest-Gate.

The company, previously listed as ORHD.CA, requested the change to reflect its current corporate identity and branding. Madinet Masr’s new ticker takes effect for the August 15 trading session, the company said.

Madinet Masr has a market capitalization of $347 mn and develops large-scale residential compounds and commercial projects spanning smart cities, malls, and office buildings. The ticker change aligns its trading symbol with strategic repositioning and a growth-focused outlook, executives said.

Egypt’s stock exchange has seen increased listings and capital raising in 2022 as companies tap into renewed foreign investor interest since the EGP floatation. Madinet Masr is seeking to benefit from these trends with its refreshed profile.