The Egyptian Exchange (EGX) IPO conference witnessed today the signing of Memorandum of Understanding (MOU) between The Egyptian Exchange (EGX) and the Ministry of Transport in order to encourage national transport projects by introducing them for subscription in the stock exchange.
The Minister of Transport, Dr. Ibrahim Demeiry, said that transport projects need huge finance beyond the budget assigned. So the ministry was looking for new sources to finance its projects, expand the ownership base and to support the national economy. He stated that the ministry is studying a number of projects; the high-speed train and projects in the field of marine ports in attempts for IPO.
From his part, EGX Chairman, Dr. Mohamed Omran stressed that The MOU will strengthen the role of the capital market to finance national projects either through IPO or through capital increase. He mentioned that EGX will provide the necessary technical support in listing.
Dr. Omran predicted that listing and introducing the national companies would witness a clear activity after the completion of the political procedures.
FTSE Mondo Visione Exchanges Index:
Signing Of MOU Between EGX And Ministry Of Transport
Date 07/05/2014