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NBE receives license to promote, cover IPOs on EGX

NBE receives license to promote, cover IPOs on EGX
The Egyptian gov't is activating its IPOs programme

Cairo – Mubasher: The National Bank of Egypt (NBE) has been licensed by the Financial Regulatory Authority (FRA) to promote and cover initial public offerings (IPOs) on the Egyptian Exchange (EGX), the Middle East News Agency (MENA) reported on Thursday.

The NBE's engagement in the promotion and coverage of IPOs reflects the positive sentiment about the EGX, as the Egyptian government is activating its IPOs programme, a market source told MENA.    

In April, the NBE announced recording EGP 10.1 billion ($583 million) in net post-tax profit for the fiscal year 2017/2018.