Mubasher Securities International has launched an digital IPO service to enable its customers to subscribe to new offerings online.
Ehab Rashad, the company’s Deputy Chairperson, said that clients can feed their accounts and send offers to the Egyptian Exchange (EGX) directly through the new system.
The new application also enables users to stay up-to-date with new EGX offerings, and receive notifications.
Prior to the coronavirus (COVID-19) outbreak, the EGX was anticipating new private and public offerings for several companies, including Banque du Caire, Arabiya Online, and Egypt Gold. The government IPO programme aims to expand ownership base and increase the EGX’s market capitalisation, as well as increase the value and quantity of daily trading.