CAIRO: Egyptian Exchange Chairman Mohamed Omran is to give the keynote speech at the Arab IO Summit (IPOs) which kicked off Monday in Dubai, organized by Bloomberg institution, according to an EGX press statement.
The conference will be attended by a number of mega financial and investment institutions in the region.
Omran’s speech will present the EGX experience of the increasing number of the listed companies and achieving the largest number of IPOs in the region in the last period, despite the hard economic situation the world witnesses.
The speech will mainly focus on the steps taken by the EGX to enhance the investment atmosphere and remove the obstacles from the investors and companies path.
“The finance volume provided by the registered companies reached 20 billion EGP since June 2013, while we witnessed the return of the large-scale IPOs that reached 5 billion EGP during the first half of 2015,” stated Omran.
He noted that the EGX achieved the largest number of IPOs in the region in the last year, which is the fruit of a long-term strategy stands on regaining the companies and investors; confidence, which could be interpreted in economic growth and job vacancies.
He added that EGX tends to provide small and medium enterprises (SMEs) with the needed finances through the Nile Index, rising from the confidence in SMEs’ role in leading the economic growth in Egypt.
“In 2014, the EGX witnessed its biggest turnover since 2010, amounting to 191 billion EGP which is twice the turnover in 2013,” Omran told The Cairo Post in February.
Further, the EGX listed 13 new companies, with capital totaling 1.9 billion EGP, 10 times 2013’s achievement, according to Omran.
“These figures reflect investors’ optimistic outlook for Egypt’s economic future and growth in the coming period,” said Omran.