President Abdel Fatah al-Sisi convened Tuesday with the heads of the National Petroleum Company (NPC) and National Co. for Natural Water in Siwa (Safi).
The EGX’s decision comes after the offering of Ghazl Al-Mahalla football was not covered, as the total quantities of orders registered in the private deals market in the initial public offering (IPO) amounted to about 17.6 million shares, with a coverage rate of 17.96 percent.
The stock exchange indicated, in a statement, that the underwriting will close on August 28.
The meeting, attended by a host of ministers and high-level officials, was held to follow up on the IPO program.
Egypt is working on offering a number of army-affiliated companies on the EGX through the Egypt Sovereign Fund, which handles the process of selecting and structuring assets, with the aim of expanding the shareholder base and promoting local and foreign private investments.
The FRA also agreed to increase the maximum number of shares that a single subscriber is allowed to subscribe to, to 15 million shares instead of 2 million shares.
The CEO of the Sovereign Fund of Egypt revealed that the value of the portfolio ranges between $3 billion and $4 billion, with the aim of raising it to more than $5 billion or $6 billion.
Egypt’s draft budget for 2022/2023 fiscal year revealed the government's intention to complete the offering program.
Saeed hailed the great success of the fund's IPO, which was launched on February 15, 2022. It targeted only LE 50 million, but the IPO was oversubscribed by 30 times, she said.
The EGX indicated in a statement that the total quantities of purchase orders (initial quantity) registered in the private deals market amounted to 1.35 billion shares.
Madbouli said he will periodically follow up the listing of a number of government companies in the bourse in 2022.
Omran said in a press statement on the sidelines of the annual conference for the FRA, Monday, that the company is medium-sized.
Madbouly added, in a TV interview, that these companies affiliated with the armed forces are being restructured in preparation for being offered on the Egyptian Stock Exchange.
The company explained in a statement to the Egyptian Stock Exchange, Wednesday, that a promotion contract was signed with CI Capital to promote and cover initial public offerings (IPOs), EFG Hermes to promote and cover the subscription, and Al Ahly Pharos to promote and cover the subscription in securities.
This came during the activities of the second day of the CEO Conference.
Madbouly explained during the cabinet meeting that the government is aware of the importance of increasing the offerings of public companies; In order to enhance the role of the stock market, develop and revive the movement of capital flow and trading in the Egyptian Stock Exchange, and raise the market capital to be more attractive to investors
This came during an open dialogue with representatives of the business community and development partners, during the conference organized by the Egyptian Businessmen Association.
This came in a meeting chief executive of capital markets at the London Stock Exchange, Murray Ross, and Charlie Walker, head of primary markets at the stock exchange. EGX received Wednesday the incomer number 241 in the list of listed companies, e-finance for financial and digital investments, a leading company in the development, management and operation of technological networks for digital transactions.
EGX said in a statement, Monday, that the public offering numbered 25.77 million shares, representing 6.17 percent of the total shares offered for sale, which represented 1.61 percent of the company's total issued shares.
The committee presented the proposal during a meeting it organized with the head of the Egyptian Stock Exchange via video conference technology.