Cairo – Mubasher: The Egyptian Exchange (EGX) has witnessed six initial public offerings (IPOs) at a total value of EGP 4 billion in 2017, chairman Mohamed Farid said.
IPOs surged by 65% in 2017, as compared with 2016, Farid added during the EGX annual conference of 2017 on Tuesday.
Foreign investors acquired about 65% of the IPOs this year, he pointed out.
The chairman further noted that foreign buying in the EGX stood at EGP 7.4 billion in 2017.
Egypt targets luring investments of $10 billion through the government IPOs programme over the coming three years.
