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- EGX Chairman: We aim to achieve a quantum leap in the governing framework of the capital market from the value-added chain perspective
- Farid : continuous consultation with the market parties to optimize the use of financial products and mechanisms such as selling borrowed securities and the market maker
Mohamed Farid, the Egyptian Exchange (EGX) Chairman, participated today (19 March) in the opening session of Portfolio Egypt 2019 conference on the theme of risk-related opportunities.
EGX Chairman said that EGX is in constant consultation with all the market parties to maximize the benefit of the new financial products and services that EGX management has launched after their approval by the Financial Regulatory Authority (FRA), such as the market maker, selling borrowed securities and the new EGX 30 Capped index.
Farid stated that EGX management has changed the process of attracting new companies to list in the stock exchange by launching a new CRM system where a large database has been built for the majority of companies that have a desire to list in the stock market, and we are currently communicating with them to inform them about the listing advantages, procedures and controls.
He revealed that there are 3 companies in different economic sectors that showed a strong desire for listing and we are coordinating with them in this regard. The value of the first two companies is about LE 14 Billion and the third company is in the evaluation process.
"The government's seriousness in implementing the governmental IPOs by broadening the ownership base of a number of companies contributes significantly to deepening the market as it’s important to enhance trading and liquidity by increasing the supply of securities available for trading." As per Farid.
Farid said that EGX management has undertaken the work to change the Egyptian capital market as one of the most important channels that provide the required financing for the companies’ expansions through promoting to list companies along with raising the awareness levels and spreading the financial culture of the community to increase the investors’ number through the cumulative long-term savings.
