The Egyptian Exchange (EGX) held a roundtable on “Funding Egyptian companies' growth via the capital market”, in cooperation with the European Bank for Reconstruction and Development (EBRD) and the African Development Bank — AFDB.
The meeting was attended by Rami ElDokany, Chairman of the Egyptian Exchange (EGX), Dr. Islam Azzam, Vice chairman of Financial Regulatory Authority (FRA), Heba Al-Serafi, Vice Chairman of the Egyptian Exchange (EGX), Alex Pivovarsky, Director, Capital Markets Development, the European Bank for Reconstruction and Development (EBRD), andAhmed Attout, Head of Capital Markets Development Division, African Development Bank (AfDB).
The event was divided to two roundtables; the first was attended by potential companies to list, nominated advisors, and investment banks. It covered the experience of listing as stated from one of the listed companies, experience of listing from the investment bank perspective and the privileges that can be provided for companies from the EBRD & AfDB. This roundtable provided the opportunity to share experiences and learn about the benefits of becoming a public company, and gave the opportunity to learn about the procedures and steps of the listing and offering process from the documents requested till trading at EGX’s platform.
The second roundtable was attended by Investor relations managers of listed companies, brokerage firms and different market participants. The roundtable discussed means of developing the Egyptian Capital market to have a more diversified and attractive market for investors’ and accordingly enhance liquidity. The event witnessed discussions on the mechanisms and steps of financing through the capital markets, whether through ownership or debt instruments, as well as the advantages and conditions of listing and trading on the Egyptian Exchange.
Rami El Dokany, Executive Chairman of The Egyptian Exchange (EGX), stressed the importance of these events for all market’s related parties, as it enhances direct communication and discussions of markets challenges and opportunities. The participation of EBRD & AfDB was of extreme value as they provided international experience and means of future cooperation in many areas.
Ahmed Attout, Head of Capital Markets Development Division, African Development Bank (AfDB), said that the bank realizes the importance of cooperation with EGX for the role it plays in providing growing businesses long-term. The joint cooperation between both entities witnessed remarkable development during the previous years, and we expect it to flourish due to the regional role played by capital markets in the development of vital sectors of African economies. The African Exchanges Linkage Project (AELP) is one of the areas of cooperation in which EGX as one of the leading African Exchanges connecting and allowing the flow of African capital in an easy manner.
Alex Pivovarsky, Director, Capital Markets Development, the European Bank for Reconstruction and Development (EBRD), stated that at the EBRD, we are committed to continue supporting the development of capital markets in Egypt. Today’s event at EGX, delivered in partnership with AfDB, aimed to raise potential issuers’ awareness about capital market financing routes, reinvigorate market liquidity and enhance listed companies’ visibility. In this respect, we announced in the event the forthcoming technical cooperation project to upgrade the investor relation function for selected listed companies.
