Cairo – Mubasher: The Egyptian Exchange (EGX) expects between three and five medium-sized and large initial public offerings (IPOs) before the end of the current year, the vice chairman of the EGX Mohsen Adel told Reuters on Monday.
The current interest rates in Egypt makes the EGX an attractive alternative for financing, Adel added.
The EGX will attract firms in the next years and will add new financial instruments including “Islamic financing, and switching to a full digital quote system", he added.
“A committee will be set up in the EGX within a few days to work on attracting new companies [...] by informing them of the benefits of registering,” he said.
The committee will work on the companies registered in Misr for Central Clearing, Depository and Registry and the companies that carry out transfers in the market over-the-counter (OTC).
By the end of 2017, a conference will be held to promote listing in the EGX, he continued, adding that ENPPI Petroleum will be finalising the registration procedures within a few days and other registered companies are looking into IPOs.
