MOPCO company on Wednesday 7 September will start trading as the first public company listed and traded on The Egyptian Exchange (EGX) from over than 10 years. Dr. Mohammad Omran, EGX Chairman explained that start trading reflects EGX strategic orientation to increase the market's depth by working to attract public and private companies to list, and to facilitate the listing procedures as well as to provide the technical support and effective coordination by EGX management until the start of trading.
Omran said "EGX has addressed many of the public entities to encourage them to list their companies on the Egyptian Exchange and to obtain financing for expansion, therefore to provide more job opportunities without loading the state budget new financial burdens, particularly in light of the circumstances and challenges experienced by the economy in the recent period.
He stressed on the importance of expanding the public companies’ offerings to achieve a good leap in their performance, which allow them to access the necessary funding to compete, at the same time to achieve greater governance and transparency in management, improving the internal management systems and to press the administration to achieve the best possible performance out of (the accountability by shareholders) principle, which is reflected positively on the public share’s revenue.
Omran stated that the trend performed by EGX is systematic; rules were modified in advance to prepare the legislative and regulatory environment that facilitates the listing operations without administrative or bureaucratic obstacles and with the minimal procedures and documents, in order to speed up and improve the investment climate, which is an urgent matter in the current circumstances.
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Start Of Trading The First Public Sector Company In EGX From Over 10 Years
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