Omran: KSA Seizes 41% of Arabs’ Total Investments in EGX

The Saudi investors have managed to lead the Arabs’ investments in the Egyptian Exchange (EGX) for the fourth year in a row. While the Arabs’ deals in the EGX were booming, the Saudi investors’ deals in the EGX have jumped 41% in 2012, compared to 2011 deals.

In an exclusive statement to Al Watan Saudi newspaper, the EGX Chairman Mohamed Omran said the Saudis have made investments of EGP 7.2 billion in the EGX out of the Arabs’ total investments of EGP 14 billion since the beginning of 2012 till last September. Accordingly, Saudis seize 51% of the Arabs’ total investments in the EGX.

Omran pointed out that the Saudis’ investments hiked by 41.2% to EGP 7.2 billion in 2012, compared to EGP 5 billion in 2011. The Saudi investors were net buyers  with a net equity of EGP 3.9 billion, compared to a net sales of EGP 3.3 billion, he added.

Omran also noted that the Arab investments have played a pivotal role in achieving the balance in the EGX’s investments. The Arabs’ investments in the EGX were mainly from the Saudi markets then from the UAE, Kuwait and Palestine.

Arabs were mostly net buyers as an impact of the Arab Gulf support for the Egyptian economy and the trust in the EGX during the post-revolution period in particular, he said.

The EGX Chairman also highlighted that the EGX has posted during the third quarter of 2012 gains of EGP 66 billion as the capital market has hit EGP 405.7 billion by the end of last September, compared to EGP 339.7 billion by the end of last June.  The gains were backed by the restoration of the political and security stability.

Moreover, Omran has revealed that the EGX administration will be issuing the final version of the amended regulations on EGX listing by the end of 2012.

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