Seven companies are preparing to launch initial public offerings (IPOs) on the Egyptian Exchange (EGX), the bourse’s chairman Mohamed Omran stated on Thursday.
Despite declining to name the companies with anticipated IPOs, Omran noted that Raya Telecom Centers was the third IPO on the EGX in 2017.
Raya’s public offering was the highest compared to the other two IPOs, he added.
The value of the IPOs launched since the start of 2017 reached EGP 1.5 billion, representing about 65% of the total value of the IPOs issued during 2016, the EGX chairman added.
Over the past year, the bourse received five IPOs worth nearly EGP 2.3 billion.