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EGX chairman expects IPOs of 3-4 private firms in 2020

EGX chairman expects IPOs of 3-4 private firms in 2020
The main index EGX30 advanced by 925.79 points over the course of 2019

Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to have initial public offerings (IPOs) of 3-4 private-sector companies during 2020, the EGX’s chairman Mohamed Farid said in a press conference on Tuesday. 

The year 2019 has witnessed initial and secondary public offerings of four companies, namely, Eastern Co, Speed Medical Co, Fawry for Banking Technology and Electronic Payments, and Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda).

Over the twelve-month period ended 31 December 2019, the main index EGX30 advanced by 925.79 points, or 7.1%, to 13,961.56 points.