Egypt IPOs raise $290.3 mln in 9 months – bourse chief

Initial public offerings in Egypt have raised 5.2 billion Egyptian pounds ($290.3 million) during the first nine months of the year, Cairo stock exchange head said on Monday.

Egypt raised 3.9 billion pounds through the first nine months of 2017.

“Egypt has witnessed the listing of four new companies in the stock market in the first nine months of 2018,” Mohamed Farid said.

More than 270 companies are listed on Egypt’s stock market which comprises of the main EGX bourse and the Nilex small-cap exchange. Some 500,000 investors are registered to trade though only 80,000 to 100,000 of those are active, according to bourse 2017 data.