EGX market capital surges 114% to exceed LE 366B in 4 yrs

CAIRO – 30 July 2017: Market capital of listed companies on the Egyptian Exchange (EGX) surged 114 percent to more than LE 366 billion in the period between 2013 and 2017, EGX Chairman Mohamed Omran said on Sunday.

Omran explained that the volume of acquisitions and mergers in the market has jumped to LE 45 billion in the four years, which accounts for 66 percent of total acquisitions and mergers undertaken since 2011.

Addressing a press conference on the stock market’s performance from 2013 to 2017, the chairman said that foreign investors have bought shares at a value of LE 11 billion since November 2016, in addition to LE 15 billion in foreign investment since 2013.

Foreign trades recorded one of its highest levels in its history, achieving 70 percent of the realized investment in eight years, Omran said, adding that more than 6,000 new funds and institutions have been established during the four-year period.