Egyptian Exchange attracts 883 foreign

As many as 883 foreign investment funds and institutions have been included in the Egyptian Exchange list in 2016, says EGX chairman Mohamed Omran. 

This is the first time the EGX has attracted so many investors, Omran said, attributing that to a continued operation to upgrade the market system to better meet international standards and achieve flexibility.

Through out 2016, the EGX has made amendments to rules regulating the issuance and transfer of global depository receipts (GDRs) of Egyptian companies traded on international bourses so that they do not exceed shares traded on the EGX, Omran told a press conference. 

Also, Egyptian companies listed for trade in foreign currency have been allowed to trade their shares in Egyptian pound in order to ease the demand for foreign currencies, Omran said.

Source: MENA