The Egyptian Exchange (EGX) is setting up a new digital registry for investor relations (IR) officers of EGX-listed companies, according to a bourse statement released last week, but did not disclose an official date.
According to the exchange, the registry aims to raise the quality of disclosures to the stock market including timing and content, ultimately boosting the market’s efficiency and improving communication between market stakeholders.
The EGX statement explained that procedures for setting up the database and registering investor relations officers will begin once they pass interviews, tests, and training programs conducted by the bourse.
EGX chairman, Ahmed Abdel Rahman El Sheikh, stressed on the registry’s aim to support IR officers’ capabilities when dealing with data and information and will stimulate institutional investment and individual investments through the stock market.
El Sheikh also highlighted the registry’s aim to boost the market’s informational efficiency, particularly with environmental, social, and governance disclosure reports and reports related to the financial impact of climate change that companies are required to publish.
The EGX will continue to hear out suggestions from IR officers in order to facilitate and overcome difficulties they may face that hinder their work, the chairman added.
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