Egypt may see 5-6 new listings hitting stock market during 2021 – official

By Amwal Al Ghad English On Mar 31, 2021

Egypt’s stock exchange EGX Egypt — Mohamed Farid, spoke at Builders of Egypt forum, in Cairo on Sunday, June 17th, 2019. (Photo Credit: Amwal Al Ghad)

Egypt could be witnessing five or six new listings on its stock market (EGX) during 2021, which may pave the way for the return of institutional investors into the market, EGX Chairman Mohamed Farid tells Al Arabiya.

Farid had not provided any further details on the timelines of the potential listings, or whether the anticipated IPOs include any companies from the stalled state privatisation programme.

A handful of companies that were planning to IPO in 2020 either postponed or outright killed their plans.

For example, Banque du Caire’s hotly anticipated IPO was postponed to 2021 as the state privatisation programme was pushed amid the COVID-induced market selloff last yea