Bahrain, Egypt bourses sign dual listing agreement

Egypt’s stock exchange has signed Wednesday a cooperation agreement on dual listing process with Bahraini bourse.

The agreement also aims to enhance technological infrastructure and informatics for the Bahrain Bourse to contribute to facilitate the flow of investment between the two countries, said Egypt’s stock exchange chief Mohamed Omran.

As part of the two-day official visit of Bahraini King Hamad bin Isa Al Khalifa to Cairo, Bahraini Minister of Industry, Commerce, and Tourism Zayed Alzayani visited the Egyptian Bourse Wednesday accompanied by CEO of Bahrain Bourse Sheikh Khalifa bin Ibrahim Al Khalifa.

“The agreement between the two bourses is part of a series of cooperation agreements and memorandums of understanding, which was signed during the successful visit by His Majesty King Hamad bin Isa Al Khalifa to the Arab Republic of Egypt.” Minister Alzayani said.

The Bahraini minister added that this agreement reflects the sincere desire of the officials in both countries to take all measures to overcome all obstacles that “hinder exchange of investments in general in all sectors in the two bourses.”

“This agreement will enhance the level of cooperation between the two bourses and will certainly open the way to create many investment opportunities for all investors.” CEO of Bahrain Bourse said.

Meanwhile, Omran said that the agreement is an important step towards deepening the Egyptian Bourse relations with the Arab bourses, especially with regard to dual listing process, where the Egyptian Bourse is focus to attract regional companies.

Total Bahraini investments in Egypt are worth some $2.7 billion, with the trade volume rising to $320 million in 2014 from $181 million the year before, according to a statement by the Egyptian trade and industry ministry.