In 3 years, Egypt bourse secures $4.3 bln finances for national projects

Egypt’s bourse has contributed around 38.2 billion Egyptian pounds ($4.3 billion) finances to its listed companies since the outbreak of June 30 mass protests in 2013, its chief announced Thursday.

Mohamed Omran, Chairman of the Egyptian Exchange (EGX), further said the bourse had played a significant role in boosting the country’s economic growth in the last three years.

Following a mass rally on June 30, 2013, Egypt had witnessed the overthrow of Muslim Brotherhood-led then-president Mohamed Morsi and eventually brought President Abdel Fattah al-Sisi to power.

Throughout 12 years, the Egyptian bourse has contributed around 120 billion pounds worth finances to national companies and projects, Omran added.

The listed firms, whose number exceeds 280, are representing around 20 percent of Egypt’s GDP, the Egyptian official stated.

Since June 30 protests, Egypt has witnessed about 19 initial public offerings (IPOs) worth 8.2 billion pounds, the highest in two decades, Omran said.