PM: Egypt Bourse Key Financial Channel, its Funding Hit EGP2bn in Q1

Big 5

Egypt’s stock exchange is one of the key financial channels for different projects and companies that seek growth, Prime Minister Ibrahim Mahlab said on Tuesday.

“Over the past phases, the Egyptian Exchange has proven its key financial role in supporting the national economy, through providing the companies finances totalling EGP 2 billion during Q1.” Mahlab said in an opening keynote speech at the EGX’s IPO 2014 Summit that kicked off today.

Moreover, the prime minister stated that through the recent political turbulence, the Egyptian bourse had given finances to projects and companies amounting to EGP 5 billion throughout 2013.

Mahlab stressed that the EGX welcomes Egyptian and foreign business community to an easier gateway to finance their growth whether they are from the private sector or the governmental projects.

EGX is organizing today its first Summit for the initial public offering. This summit aims at gathering all the decision-makers in the world of business and finance locally and regionally to enhance the growth opportunities for companies by raising capital through the initial public offerings (IPOs).