Mubasher TV
Contact Us Advertising   العربية

Egypt’s gov’t IPO programme to launch by April or May

Egypt’s gov’t IPO programme to launch by April or May
EGX Chairman Mohamed Farid

Cairo – Mubasher: The state-run initial public offering (IPO) programme is expected to launch next April or May, chairman of the Egyptian Exchange (EGX) Mohamed Farid said. 

The Egyptian pound flotation has positively impacted the EGX, Farid added in an interview on CBC’s Hona Al'asema talkshow.

The benchmark EGX30 index has hit 15,000 points and trading volume increased to EGP 1.2 billion per day, up from a daily average of EGP 500 million before, he indicated.

The top official highlighted that trading volume amounted to about EGP 2.2 billion in 2007/2008.

Egypt's finance minister Amr El-Garhy had previously denied that the Egyptian government was seeking to raise about $10 billion from its three-year IPO programme.