Mohamed Maher, CEO of Prime Holding for Financial Investments, asserted that the 21st ASEA Annual and Flagship Conference, which is being held under the title of “Africa Mapping the Future” from 19 to 21 November 2017 in Cairo, is a great chance to encourage African shares to be listed on the Egyptian Exchange (EGX), noting that it is a step that the EGX board should schedule for the upcoming years.
Maher suggested that reducing costs of listings on the EGX, especially for dual-listed companies, can estimate African companies to plan to be listed on the EGX, adding that reducing costs of listing on the EGX has been under discussion before the EGX board that is expected to make a decision in this matter in a short time.
“We have a moderate number of foreign investors that are expected to increase if the listed companies release research about their projects, plans, and financial positions regularly”, Maher added.
Moreover, the CEO of Prime Holding for Financial Investments noted that the Egyptian Exchange is ready to receive initial public offerings (IPOs) of new companies, especially that daily trading value is relatively strong now, however, there is a need to widen the market by listing new companies, adding that the implementation of new financial tools like short selling will support increasing trading value on the Egyptian Exchange.
It is worth mentioning that the EGX is hosting the ASEA Conference 2017, expected to be attended by minister of investment and international cooperation, Sahar Nassr, a large number of African ministers, and regional and international financial institutions delegations.