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FBG tops ranking of EGX transactions with EGP 33bn, followed by CIBC - Daily News Egypt

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FBG tops ranking of EGX transactions with EGP 33bn, followed by CIBC

Mubasher aims to expand in Upper Egypt, says Sadek


The Financial Brokerage Group (FBG) topped the list of trading companies in terms of the value of transactions in the last six months, from January until the end of June, denominating 16.1% of the total turnover of EGP 33.09bn, supported by the largest volume of deals during the period, amounting to EGP 9.3bn. 

The Commercial International Brokerage Company (CIBC) ranked second with a market share of 9.9% and a turnover of EGP 20.33bn, followed by Hermes Brokerage with a market share of 8.8% and a turnover of EGP 17.95bn, then Beltone Securities Brokerage in the fourth place with 4.7% market share and EGP 9.61bn worth of turnover in six months.

Pharos Securities Brokerage ranked fifth and took a 4.4% market share with transactions of EGP 8.97bn, then Arqaam Securities Brokerage in the sixth place with a market share of 4% and transactions valued at EGP 8.21bn.

Pioneers Securities came in the seventh place with a market share of 3.8% and transactions valued at EGP 7.72bn, then SIGMA Capital Securities Brokerage in the eighth place with a 3.5% market share and transactions of EGP 7.5bn.

Naeem Brokerage was the ninth with a market share of 3.2%, and EGP 6.53bn worth transactions, then HC Securities & Investment in the 10th place with 2.9% market share and transactions of EGP 5.88bn.

Ayman Sadek, managing director of Mubasher Securities, said that the company is targeting expansion in Upper Egypt as this region needs more coverage.

He noted that the value of transactions in the previous period was not encouraging to pump new investments, stressing that his company will follow the performance of the market in July with the aim to inject new investments provided that the value of transactions start to increase.

Sadek predicted that the market will recover in the coming period following the acquisition deal of Global Telecom Holding, which the market has been waiting for a long time.

Mubasher focused on retail transactions in the second quarter (Q2) of 2019, explaining that the company aims to expand in corporate transactions for the coming period.

https://dailynewsegypt.com/2019/07/02/fbg-tops-ranking-of-egx-transactions-with-egp-33bn-followed-by-cibc/
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