Cairo – Mubasher: Only two state-run companies are projected to be listed on the Egyptian Exchange (EGX) this year, bourse chairman Mohamed Farid said.

He also noted that the already floated shares from nine listed state-run firms will be raised, according to local newspaper Youm7.

The EGX is likely to see five or six listings of private sector firms operating in different fields this year, he remarked.

On another note, the top official stressed that the Egyptian bourse was planning to launch the derivatives market and was reviewing a number of new financial instruments which it plans to make available for investors.

The EGX’s administration is working with listed-firms to improve the trades and disclosure environment, he continued.

On 18 March, the finance ministry unveiled plans to offer up to 23 state-owned companies on the EGX at a total value of EGP 80 billion as part of the first phase of government-owned companies' initial public offerings (IPOs).