The Egyptian Financial Supervisory Authority (EFSA) will be completing all the conditions and requirements for having representatives of NILEX-listed companies within the coming week.
Dr. Ashraf Al-Sharkawi, the EFSA chairman, has emphasized that NILEX has still been appealing as a source of funding for many companies.
“This can be highly noticed through its market capitalization which has reached EGP 1.3 billion by end of May, compared to EGP 262 million on its first day of trading.” Al-Sharkawi added
“There has been a number of decisions adopted which has contributed to the increase of its market capitalization and to the larger number of listed firms.”
Al-Sharkwai noted that among those decisions the NILEX administration had adopted were the amendments on the listing rules besides changing trading system regarding bids and asks and how to set the opening price.
Al-Sharkawi forecast that the number of the NILEX-listed companies would reach 50 by the coming year.
