Egypt expects several share offerings

854

Cairo

Egypt expects two state companies and one private pharmaceuticals firm worth more than $61.3 million, or one billion Egyptian pounds, to make share offerings by the end of the year, an official at the Financial Regulatory Authority said on Sunday.
One small company worth about 50 million Egyptian pounds was also expected to offer shares on the Nile Stock Exchange, which specializes in small and medium sized enterprises, said Sayed Abdel Fadeel, head of the authority’s corporate finance department. —News