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EGX, EBRD mull Nilex development

EGX, EBRD mull Nilex development
The Nilex is an important platform for financing expansion

Cairo – Mubasher: The Egyptian Exchange (EGX) held talks with the European Bank for Reconstruction and Development (EBRD) over strengthening and qualifying the small- and medium-enterprises (SMEs) listed on the Nile Stock Exchange (Nilex).

The Nilex is an important platform for financing expansion, growth, saving, and investment in the long term, EGX chairperson Mohamed Farid said in a statement.

The EGX’s administration is contacting all the financial institutions interested in bolstering SMEs on the Nilex, Farid noted.

The EGX is at pains to develop the SMEs in a bid to create more jobs and upgrade different industries, activities, and services, he emphasised.

The EGX has acquired the biggest stake in several economies’ growth, he indicated.

On Sunday, the finance ministry announced that about 23 state-run firms would be offered on the EGX to raise up to EGP 80 billion as part of the government's initial public offerings (IPOs) programme’s first phase.