The Egyptian bourse is expected to witness the biggest number of IPOs in its history in 2016 if companies registered at the bourse offer their stakes in the stock market in line with the set rules, chairman of the Egyptian Exchange Mohamed Omran said.

     

    In an interview with the Arabic-speaking CNBC on Thursday 31/12/2015, Omran noted that it is the first time in 10 years that a public company - Misr Fertilizers Production Company (MOPCO) - joins the bourse. He said the bourse refreshed in the last weeks of 2015 as 12 new companies joined the Egyptian Stock Market.

     

    The bourse was going well in the beginning of 2015 as its index exceeded 10,000 points, but some negative incidents affected the market performance.

     

    Omran noted that the bourse is ready for securing needed funds of national and governmental projects in the electricity, energy, water and roads sectors. He noted that at the same time the bourse is in need for the government's support through offering more IPOs of governmental companies at the bourse.

     

    Omran ruled out any intention to amend indices working mechanisms of the bourse.

     

    MARKET STATUS: CLOSED

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