By: Ahmed Alam
Cairo – Mubasher: Eight firms, including real estate and tourism firms, are preparing to submit initial public offering (IPO) requests to the Egyptian Exchange (EGX) soon, EGX Chairman Mohamed Farid said on Tuesday.
Another five companies, operating in the petrochemical and financial sectors, are considering listing on the EGX, Farid added during the EGX annual conference of 2017.
Average daily trading volume (ADTV) surged by 41% to EGP 1.04 billion from EGP 741 million in 2016, he mentioned.
Foreign buying on the EGX stood at EGP 7.4 billion in 2017, the chairman pointed out.
Egypt’s investment minister Sahar Nasr has mentioned that the Parliament would discuss amendments of the capital market law within days.
Translated by: Mai Ezz El-Din
