3 Egypt-based companies mull listing shares on EGX: El-Shiekh
Updated 1/21/2025 9:56:00 AM
Arab Finance: Three new companies, including real estate company Bonyan, have requested to list their shares on the Egyptian Exchange (EGX), Ahmed El-Shiekh, EGX's Chairman, told Asharq Business.
The other two entities operate in small and medium-sized enterprises (SMEs).
Bonyan plans to float between 20% and 25% of its shares on EGX, Ahmed Sabbour, Chairman of Al Ahly Sabbour, told Asharq Business in a previous interview.
The company has requested to list 1.65 billion shares, each with a nominal value of EGP 1.
On the sidelines of a financial awareness event held in cooperation with the EGX and the Ministry of Youth and Sports, El-Shiekh affirmed the stock’s goal to continue supporting the listing activity during 2025.
The authority is considering the re-issuance of listing rules to evolve the trading process and enhance the financial market's activity, El-Shiekh noted.
He added that the government’s initial public offering (IPO) program will contribute to boosting market liquidity and attracting foreign investors.
The Chairman recently highlighted that the EGX witnessed the listing of 11 new companies in 2024.
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