Egypt could see 4-5 IPOs in H2: chairman

Egypt is expecting from four to five initial public offerings (IPOs) within the second half of the year, the country’ stock exchange (EGX) chairman told reporters on Sunday.

Speaking on the sidelines of the first forum of heads of African investment commissions in Sharm El-Sheikh, Mohamed Farid said that after listing the shares of two new companies this year, a third offering that was delayed is expected before the year-end.

Farid further revealed that more IPOs are expected during the second half of the year, with four to five private sector companies recently discussing listing on the Egyptian bourse.

These companies work across multiple sectors such as petrochemicals, information technology, and agriculture, he added.

The Egyptian official called for integration between African exchange markets and brokerage companies through digital solutions that encourage the flow of investments and create an environment that caters to the needs and ambitions of all investors.

“Inter-African securities trading requires integration between exchanges and brokerage firms through electronic linking that allow flow of investments and trading in an ecosystem that meets the requirements of all investors, which in turn will boost liquidity and trading between African exchanges,” Farid said.

Under the theme Integration for Growth, Egypt is hosting the inaugural forum for the heads of African investment commissions in Sharm El-Sheikh on 11-13 June. The forum was inaugurated on Friday by Egyptian Prime Minister Mustafa Madbouli, with the participation of 33 African countries and representatives of international and African economic institutions.