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EGXEgyptian Exchange
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Min- ister of Finance Amr al-Garhy says the plan is to widen the ownership base and increase the daily trading and market capitalisation of the Egyptian Exchange. In April, Khalid Abel Rahman, Assistant Minister of Finance for Capital Market Affairs, said the IPO programme is to raise EGAu100bn ($5.8bn).
Both the Egyptian Exchange EGX30 and Morocco's MASI Free Float indices are down by about 16% in local currency over the year to March 2019.
The capital will be raised by the issuance of 95.10 million shares, upon which subscription will be limited to Consolidated Financial Holdings (CFH) as a selling shareholder at EGP 7.36 per share, the final price of the initial public offering (IPO), the company said in a filing to the Egyptian Exchange.
Shares of Cira were admitted to trading on the Egyptian Exchange under the stock ticker Cira.
He said there are many leading companies listed on the DFM or the Egyptian Exchange that actively operate in both countries and represent potential candidates for dual listing.
We are pleased to expand our relationship with Beltone Financial to support the launch of its market-making business on the new ETF segment of the Egyptian Exchange and to help them achieve more with an integrated trading platform.
"I think that Egyptian Exchange will prosper in the near future; we want to boost the relations between the two countries, especially as we have already enjoyed strong relations for many years," said Japanese Ambassador in Cairo Norihiro Okuda, before the Ringing of the Bell ceremony.
"We will have in the coming three years huge projects in infrastructure that will need financing, and the banking sector will not be able to provide all the finance needed," Egyptian Exchange Chairman Khaled Serry Sayam said at the Reuters Middle East Investment Summit in Cairo.
Summary: The Egyptian Exchange registered a 1.2% increase in prices week-on-week, supported by some favorable company-specific factors.
The Egyptian Exchange (EGX) said that the initial public offering (IPO) of CI Capital Holding has been implemented at a value of EGP 1.7bn.
Kazim said there were many leading companies listed on the DFM or the Egyptian Exchange that were actively operating in both countries and representing potential candidates for dual listing.
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