Companies See EGP10 bln Funding from EGX within this Year – Omran

Companies listed on Egypt’s stock market are likely to get total finances, through raising capitals, around EGP 10 billion within this year, bourse chairman Mohamed Omran said on Tuesday.

In a keynote speech at the largest economic summit on IPOs organized by the Egyptian Exchange, Omran stated that the EGX had worked on easing the listing  procedures as well as removing obstacles for different companies and investors who are seeking growth via expanding ownership base through stock market.

By raising their capital, the listed companies obtained finances from the EGX totalling EGP 5 billion during 2013, the top official added, expecting EGX’s funding to grow more on condition of restoring more political stability and the confidence of global financial institutions.

EGX is organizing today its first Summit for the initial public offering. This summit aims at gathering all the decision-makers in the world of business and finance locally and regionally to enhance the growth opportunities for companies by raising capital through the initial public offerings (IPOs).