Egyptian Bourse attracts 1,150 foreign institutions and funds in 2017

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The Egyptian bourse has succeeded in attracting 1,150 Foreign institutions and funds during 2017 compared to 900 in 2016 with growth rate of 26 percent according to EGX chairman Mohamed Farid.

Moreover, The Egyptian Exchange (EGX) attracted new 22,000 investors in 2017, up from 16,000 investors in 2016. The trading value surpassed 292 billion Egyptian Pounds, which is the highest value since 2009.

During EGX annual conference of 2017, Farid attributed the foreign investments to the road-shows that the EGX conducted in 2017 in stock markets of New York and London.

“The improvement in the EGX’s performance in 2017 is an indication of the success of the economic reform program,” Farid said.

Fourteen companies  seek to be listed in the Egyptian Exchange (EGX) in 2018, whereas eight companies are submitting requests. Farid explained that five-six companies have requested information about listing, adding that he is expecting a surge in that regard as three companies were listed in 2017.

“Foreign companies and funds requested from the EGX to increase the number of listed companies to increase market attractiveness,” he said.