Egypt bourse expects five new IPOs in few months: chief

Egypt’s stock exchange will witness five new initial public offerings in the coming few months; the bourse’s chief Mohamed Omran announced Sunday.

There is a current state of cautious optimism among investors about chances of success of the Egyptian economy in general and the capital market in particular, Omran added.

Earlier this month, the Central Bank of Egypt has decided to follow a more flexible policy with regard to the exchange rate, aiming to resolve distortions in the exchange rate system and restore the circulation of foreign currency inside the banking system in an orderly way.