Arab Finance: Prime Minister Mostafa Madbouly reviewed plans to enhance the performance of the Egyptian Exchange (EGX) and highlighted the stock market’s key achievements over the past period, according to a statement.
Madbouly lauded the EGX’s positive indicators, particularly the increase in average daily trading value to EGP 15 billion and the rise in market capitalization to more than EGP 4 trillion.
For his part, Minister of Investment and Foreign Trade Mohamed Farid outlined the latest developments in the stock market and highlighted key measures under consideration to further improve the EGX’s performance.
The discussions focused on the government’s initial public offering (IPO) program and efforts to prepare companies for listing and trading on the EGX.
Officials also emphasized the importance of preparing large government and private-sector entities to leverage the newly introduced tax incentives for listing and trading on the EGX.
The meeting addressed future plans for the EGX and its transformation into a joint-stock company and the potential listing of its shares on the exchange.
They also touched upon the latest developments regarding the technological infrastructure and new mechanisms for short selling, derivatives, and market makers.
The EGX recently launched a beta version of its new website as part of its digital transformation efforts, offering investors and traders a more interactive way to monitor market activity.
