Egypt Bourse Reviews Listing Rules by 2014-end, Emaar Eyes IPO Soon

Big 5

Egyptian stock Exchange (EGX) plans to review its listing rules with regards to the listing fees, which reached EGP 500.000, chairman Mohamed Omran said.

In an interview with CNBC Arabia, the Egyptian official stated that brackets should be created to lower the fees.

Omran further noted that UAE Emaar Properties’ Egyptian arm is in ongoing talks with investment banks to list its stocks in the Egyptian stock exchange.

Talks with the Egyptian arm of UAE Etisalat have been at a standstill for months Omran revealed.

The last few weeks witnessed intensive purchases by foreign investors which clearly points to the investors’ response with the reforms taken by the government in the last period, Omran added.