Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to see new private placements with a total value of EGP 25 billion, the bourse’s chairman Mohamed Farid stated on Wednesday.
The Egyptian government is planning to offer stakes in a group of listed companies, in addition to listing 14 public firms in the market, with a total value of EGP 80 billion, he added, according to a bourse statement.
The EGX has three priorities: to attract new companies to be listed in the market, to enhance the trading process through the development of new financial mechanisms and products, and to deepen communications and relations with domestic and global financial institutions, Farid said.
We work, in collaboration with the Financial Supervisory Authority (FSA), to diversify investment options for all investors through the offering of new financial tools and products, the top official noted.
The structural changes in the EGX – whether those related to monetary, financial, investment, or jurisdictional policies – will be a key incentive for the return of foreign capital to the market, Farid remarked.
