Eagle negotiating two new listings on Egypt SME bourse

Egypt-based financial adviser, Eagle says talks were underway to make two new listings in the local stock market for small and medium-sized enterprises – NILEX by early 2017.

Yasser Emara, Chairman of Eagle, said on Monday that one of the two planned listings would be in plastics industry sector, with capitalisation of around 6 million Egyptian pounds ($675,797). The talks with the plastics manufacture firm are likely to complete in the coming few days, Emara added.

The second planned listing will be in logistics sector, with capitalisation worth 2.5 million pounds, the official added.

Emara said he expects offering 20 percent share in New Castle for Sports Investments Company on NILEX would be finalised before the end of the current September.

NILEX is the Egyptian Exchange market for growing medium and small companies, set up in 2007 to allow SME’s to raise funds outside bank loans. More than 30 companies are currently listed on NILEX.