Listing companies on the Egyptian Exchange (EGX) helps them become the centre of international investor focus, and attract foreign investments, EGX Chairperson Mohamed Farid has said.
Meanwhile, the stock exchange listing process also helps companies launch, grow, and achieve targets, ensuring investments coming from domestic sources also increases.
Farid’s comments came during a workshop organised by the EGX in coordination with the European Investment Bank (EIB) and the Federation of Euro-Asian Stock Exchanges (FEAS).
The workshop aimed to introduce companies to the requirements of listing on the EGX, and the EGX management’s efforts in coordination with companies to reinforce their commitment to governance and sustainability standards.
This is particularly true in light of the growing interest of investment institutions in the shares of companies most committed to governance and sustainability standards, according to a statement released on Monday.
The activities of the workshop’s first round were held virtually according to the Egyptian Government’s directives to maintain social distancing and curb the spread of the novel coronavirus (COVID-19) pandemic.
The one-day activities. held last week, were attended by EGX leaders, and representatives from the European Bank for Reconstruction and Development (EBRD) as well as FEAS.
The importance of the workshop stems from the fact that it opens a direct dialogue in an interactive manner that brings together, for the first time, parties involved in the registration and offering process.
This is in addition to companies that have the desire and ability to transform into public companies through stock exchanges. This is due to the importance of this on their financial, operational and institutional performance.
Representatives from eight companies operating in various economic sectors also participated in the workshop. They have expressed the desire and ability to comply with the requirements of listing and offering shares on the EGX to complete their expansion plans.
These companies are considered some of the outputs of the “client relation management” work, which was developed by the EGX Administration to enhance the supply side in the stock market.
Farid said that the workshop sought to present the outputs of the “client relation management”, which is the modern administration that was launched by the current EGX management two years ago.
It is a database of companies that was built over the past period. It includes companies wishing to register and meet requirements, in line with the goals for growth, launch, survival and impact.
He stressed that raising the level of awareness among companies about the requirements of the process of listing and offering on EGX is an integral part of EGX’s comprehensive business strategy.
This strategy aims to increase the efficiency, depth and competitiveness of EGX, which is the value chain that includes the supply side. It facilitates the work environment to attract strong companies that are able to grow according to sound standards and requirements.
