Egyptian Exchange Chairman, Dr. Mohammed Omran: EGX Will Organize The First IPO Conference In Egypt During The 2nd Quarter Of 2014

EGX's chairman, Dr. Mohammed Omran said that EGX will organize a conference during the 2nd quarter of 2014 to support initial public offerings. The conference will approach potential investments to take advantages of the new listing rules allowing national projects in partnership with the private sector to benefit of EGX as a platform of finance.The conference will introduce the benefits of listing to private sector companies.

Omran expected that one of the cement companies working in Egypt will finalize its IPO during the 1st half of this year.He pointed out that this week will witness the completion of listing procedures in EGX.

EGX's chairman's quotes came on the sidelines of the conference on " Money & Finance " today.

Through his speech, Omran pointed out that the system of capital market in Egypt is currently witnessing a remarkable improvement in the mechanisms of communication between EGX and EFSA in terms of decision-making.

He considered that the latest amendments to the listing rules as a good step to realize more protection for the rights of shareholders.

On the other hand , EGX's chairman said that the market is working to to activate the secondary market for bonds through completing all the technical ingredients for the existence of a secondary market for bonds which is expected to be completed with the cooperation of the Central Bank of Egypt and the primary dealers, which would grant the individual investor to trade on the bonds along with the primary dealers and block transactions.