Egypt Bourse Seeks to Bolster SMEs Market

Egypt bourse announced on Wednesday that the current management is striving within the upcoming phase to bolster the performance of the stock market’s affiliate for the small and medium enterprises (SMEs).

Egyptian Exchange Chairman Dr. Mohamed Omran has met Wednesday morning with representatives of the firms listed in the EGX of the SMEs, known as NILEX, and with the nominated advisors seeking to review all the aspects of supporting the NILEX alongside increasing its daily turnovers. A nominated advisor acts as a coordinator between the issuer and the exchange all the time.

During the meeting, Dr. Omran stated that the new board has recently approved to increase the trading hours for NILEX to become for 4 hours instead of 2 hours only, targeting higher liquidity and reviving the market.

The top official further added that the bourse management is currently in talks with the country’s financial regulator – the Egyptian Financial Supervisory Authority – so as to facilitate the enlisting procedures. This comes within the framework of the bourse’s efforts to boost the growth potentials for the SMEs.