3 private firms to finish offering procedures by 2019 end: EGX Chairman

Three private companies are set to be listed  in the Egyptian Exchange before the end of 2019, Chairman of EGX Mohamed Farid said.

In a conference at the American Chamber, Farid added that the companies expresses their desire to enter into the market and are currently being registered in the EGX.

On the other hand, the EGX Chairman that that the market capitalization of the first company reaches 8 billion Egyptian pounds.

While the second company market capitalization is estimated by 6 billion Egyptian pounds, he added.

One of the companies will finish the procedures of offering in the EGX during the first half of 2019, yet the two other companies will be offered either in September or in November.

He added that the delay of listing the shares is not related to the bourse but to the companies themselves and their vision about the timing and the importance of the offering to reflect positively on them.

He also referred to the importance of number of sectors in developing the economy in general, especially the real estate sector.

The stock market is ready to finance the expansion of real estate companies, saying he is hoping to increase the number of registered real estate companies in the bourse.

This sector is very important for boosting economic growth, creating jobs and improving living conditions, Farid said