Daily News Egypt (DNE) has learned that the Ministry of Transport has sent the records of 35 companies affiliated with the ministry to consider listing them on the Egyptian Exchange (EGX).
Sources said that the Egyptian financial market will witness the disclosure of many listing operations in the coming days.
The sources said six companies in the filings sent to the exchange are ready to get its approval for a temporary listing. They added that the changes recently approved by the Financial Regulatory Authority (FRA) will move the stagnant water in the IPO file as companies will be able to enter the offering and listing procedures in stages. , and we could see many government proposals based on this mechanism as liquidity levels improve in the market.
The head of the FRA, Mohamed Farid, had revealed at a recent press conference at the seat of authority in the Smart Village that the FRA board had approved an amendment to the registration rules which allows companies to be temporarily listed on EGX before registering with the authority to expedite and facilitate companies wishing to offer their shares.
The sources pointed out that a very long list of companies are waiting for the amendment to apply to EGX.
The FRA Management Board approved the changes at its meeting on 13 September and they have been sent for publication in the Official Journal, which means that they will come into force as soon as they are published.
Farid said on the sidelines of the conference that the authority is working on a comprehensive development of the listing and delisting rules for securities on EGX to facilitate companies wishing to list and list, pointing out that the stock market is a platform that helps economic entities operating in various activities to access the financing necessary for expansion to support the growth of the national economy.
