Five Egyptian SMEs seen listing on NILEX in H1: Economic Group

Five firms are expected to be listed on Egypt’s bourse for the small and medium-sized enterprises (NILEX) within the first half of this year, said Egypt-based financial adviser Economic Group for Securities.

Kamal Eldin Mahgoub – Economic Group’s chairman – told Amwal Al Ghad Monday that his firm plans to help listing of five firms, whose capitalisations totalling 26 million Egyptian pounds (US$3.3 million), on NILEX in the first half of 2016.

Meanwhile, Economic Group is also negotiating with a real estate developer firm to list its share on NILEX before the end of the first quarter of 2016, Mahgoub added. The developer’s capitalisation is with a capital worth 8 million pounds.

There are also negotiations with three industrial firms to be listed on NILEX before the first half of 2016, with total capitals worth 17 million pounds, Economic Group’s chairman said.