Egypt bourse market cap to hit 2 trillion pounds 2022-end: official

The head of Egypt’s market regulator on Tuesday said the local bourse’s market capitalisation is expected to hit 2 trillion Egyptian pounds ($123.7 billion) at the end of 2022.

Mohamed Omran, chairman of the Financial Regulatory Authority (FRA), told an audience in Cairo that he remains bullish on the Egyptian exchange buoyed by the government’s IPO programme for public or joint venture firms.

There are 650 joint ventures with the government and at least 300 of them are likely to meet the Egyptian bourse’s listing requirements, Omran said.