Egypt Bourse to Enlist Two Major Firms By Year-End; Chief Says

Before the end of the current year, Egypt’s bourse will be enlisting two new major firms with a capital of EGP 5 billion, the chief said on Monday during attending the Egyptian Capital Market Association’s meeting.

Dr. Mohamed Omran – the Chairman of the Egyptian Exchange – stated that the EGX will finalize the enlisting of two major firms with capital of EGP 5 billion within the next 4 months. This comes within the new interim government’s efforts to allure more major local and international firms to invest in the Egyptian market, he noted.

Dr. Omran further revealed that the Egyptian bourse is planning with upcoming period to facilitate the enlisting procedures, seeking to attract foreign investors to invest in the market.

The EGX administration is trying to recoup following the exit of a number of key firms from the main index, notably Orascom Construction Industries, Mobinil, and NSGB.

On the two big firms to be enlisted in the EGX, Dr. Omran denied to revealed their names. Instead, he referred that the two companies in the fertilizer and cement industries.