Mohamed Farid, executive chairperson of the Egyptian Exchange (EGX), opened the fifth edition of Capital Markets Summit on Tuesday.
In his speech, Farid revealed that two private sector companies were offered on EGX in 2020. Their offering came as a result of EGX’s changing methodology in receiving companies’ listing.
Farid explained that the new methodology is based on the promotion operations of individuals dealing inside the market and creating a special unit to promote companies preparing to be listed in EGX. This resulted in listing a company last year that was contacted in 2018, as well as offering a real estate company at the beginning of this year, with a plan to launch two additional companies in the market before the end of 2020.
Farid pointed out that a long time is needed to promote the idea and inform companies with the importance of using EGX as a financing platform, before the actual listing takes place, “the outcome of the new way of management introduced by EGX will be apparent on the long run.”
