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Egypt: 20 companies listed on EGX with EGP 5bn capital since May 2014
Cairo, Egypt (Capital Markets in Africa):- The Egyptian Stock Exchange (EGX) is preparing to welcome, for the second time, an investment conference on financial markets, reports Egypt “Daily News” citing a press release of the institution.
Over 20 companies have been listed on the EGX with over EGP 5bn in capital since May 2014, EGX Chairman Mohamed Omran announced.
In the statement issued by the Stock market, EGX Chairman Mohamed Omran said this “success” came after the first summit for the initial public offering (IPOs) that took place in May 2014. This gathered companies and officials to define and analyze the Egyptian companies’ listing in the stock market.
Omran noted that the EGX is preparing for the second annual summit for IPOs and increasing capitals under the patronage of Prime Minister Ibrahim Mehleb. “This conference shapes a chance for promising companies to expand and obtain finance from financial institutions and investment banks” he added.
The conference, which will be held on 9 June, will focus on emerging investment opportunities in the Egyptian market, especially the volume of development in the legislative and organisational structure recently witnessed by the market.
Ministerial sessions will be included in the conference to discuss benefitting from the Egyptian financial market through restructuring public companies and helping in increasing their capital, the EGX said.
The conference will also discuss the possibility of the Egyptian bourse’s financing of giant projects through IPOs. International financial institutions were invited to attend the summit, the stock market said.