CAIRO: State-owned Misr Fertilizers Production Company (MOPCO), an affiliate of Egypt’s oil sector, submitted a request to the list on Egyptian Exchange (EGX) Thursday with a 2.3 billion EGP ($300 million) capital.
Mopco’s list request, which comes less than a week following the close of the three-day Egypt Economic Development Conference in Sharm el-Sheikh March 13-15, “is a sign of the government’s intention to capitalize on finance opportunities provided by the stock market,” the EGX said in a Thursday statement.
The EGX management continues efforts with government bodies to list more state-owned companies in the Egyptian market, added the statement.
In 2014, the EGX listed 13 new companies, with capital totaling 1.9 billion EGP, 10 times 2013’s achievement, EGX Chairman Mohamed Omran said in an interview with Youm7 and The Cairo Post in February.
The year 2015 is off to an auspicious start for “many reasons,” referring to the list requests from Emaar-Misr, a subsidiary of Dubai-based Emaar Properties, and Orascom Construction LTD. Both have been listed recently.