Bourse to open new department for encouraging more heavy-weight firms

Egyptian Exchange Deputy Chairman Mohsen Adel said the bourse will open a new department for encouraging more heavy-weight companies - either public or private - to be listed at the bourse.

In statements to MENA on Thursday, Adel said the new department will also work on spreading awareness about capital market and financing tools offered by companies or individuals through investment opportunities in the Egyptian bourse.

He added that Investment and Cooperation Minister Sahar Nasr fully supports activating the bourse's role in realizing economic development and bankrolling the economic reform program.

He said the bourse will cooperate with investment banks during promotion campaigns abroad.

Meanwhile, Mohsen said that there are ongoing talks between the bourse and Public Enterprise Sector Minister Ashraf el Sharqawy on offering part of stakes of profitable governmental companies and underway major public companies at the bourse.

Mohsen also noted that the bourse will set up a new department for relations with investors to promote contacts between investors and the bourse.

Mohsen will temporarily run the bourse until appointing a new chairman as the term of duty of Bourse Chairman Mohamed Omran will end on August 6.

Source : Mena