EFSA approved 1,964 new companies, capital increase by May

CAIRO – 3 July 2017: The Egyptian Financial Supervisory Authority (EFSA) issued 1,964 approvals for establishing new companies and increasing capitals from January to May, with LE 36.7 billion ($2.03 billion) in value, EFSA head Sherif Sami announced Sunday.

Around LE 16.8 billion of the total value are already paid, recording 11 percent increase, Sami added in a statement.

The market capitalization of listed stocks in the Egyptian Exchange hiked 69 percent month-on-month by the end of May, recording LE 676 billion.

In the first five months of 2017, the trading value of listed and unlisted securities reached LE 165 billion, compared to LE 115 billion, with 44 percent increase, according to Sami.
With regards to bonds, their trading value marked LE 5.4 billion in five months.

Meanwhile, the trading value in NILEX recorded LE 385 million by the end of May, compared to LE 289 million in the same period in 2016.