51 brokerage companies granted licences to offer short-selling on Egyptian Exchange

    Fifty-one brokerage companies have been granted licenses to offer short-selling in Egypt's bourse, a senior official at the country's Financial Regulatory Authority (FRA) said. 

     

    The official told Reuters that the companies were granted licences to offer the mechanism on Cairo's bourse.

    The statements come one day after the FRA said it will give a green light on short-selling on 1 December, a move officials hope will increase liquidity.

     

    Egypt's stock exchange has around 128 brokerage companies.

     

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