CAIRO: The Egyptian Exchange (EGX) is preparing to launch its second annual conference for investment in the stock market, with the aim of bolstering IPOs and capital increases, according to a Tuesday conference.
It will showcase the promising investment opportunities in the Egyptian market with a focus on the legislative and regulatory infrastructure development.
The summit will be held under the auspices of Prime Minister Ibrahim Mahlab, and will include a special session for a number of the economic group’ ministers to discuss government orientation to capitalize on of the stock market in light of its plans to restructure state‐owned companies’ restructuring and increase their capitals.
“We are targeting to increase the market depth by attracting new promising companies after the great achievement resulted of the last year IPO conference, by listing more than 20 companies with a capital of more than 5 billion EGP ($655.76 million) … Almost the highest rate since the Nineties” said EGX chairman, Mohammad Omran.
Omran added that companies’ expansion and growth will bolster the economic development and increase GDP growth rates.
Financing mega projects through IPOs which leads the public participation in government’s projects will be discussed during the event, along with ways to maximize the public funds’ return on investment, the statement read.