The Egyptian government intends to list five to six new companies on the Egyptian Exchange (EGX) by the end of 2021, Prime Minister, Mostafa Madbouly announced.
During his meeting with the Egyptian Financial Group Hermes Holding (EFG Hermes) and other investors, Madbouly stressed on the importance of listing public companies on the stock market to endorse the securities market, boost capital inflows and trading on the EGX, in addition to increasing market capitalisation to attract more investors.
Madbouly discussed possible cooperation opportunities with 28 financial and investment institutions from Saudi Arabia, UAE, US, UK, Holland, and South Africa.
It is worth noting that e-finance For Digital and Financial Investments started trading on the EGX last October, hitting the largest initial public offering (IPO) in Egypt with a value of EGP 5.8 billion.
