Cairo – Mubasher: Trading on Egypt’s new commodities exchange (EGYCOMEX) is expected to begin by the end of 2021, the Middle East News Agency (MENA) reported on Tuesday, citing the Chairman of the Egyptian Exchange (EGX), Mohamed Farid, as saying.
The new exchange will help enhance transparency in commodity pricing, which will contribute to creating greater price stability, and attract licensed warehouse companies to the bourse, Farid added during the second edition of Egypt's Summit for Trade and Investment.
It is planned to have four to five commodities trading on EGYCOMEX at first, he noted.
Farid called on retail companies to go public on the EGX to benefit from the advantages of listing on the stock exchange.
He added that there are eight retail companies listed on the EGX which managed to raise their capital 23 times since going public with a total market cap value of EGP 8.8 billion.
