Egypt IPO market have surged 40% in two-and-a-half years – official

The market for initial public offerings (IPOs) in Egypt saw a 40 percent growth in the past two years and half, said Egyptian bourse chairman Mohamed Omran on Tuesday.

The IPOs have raised around 9 billion Egyptian pounds ($467.3 million), Omran further revealed in a press conference in Cairo.

For this year, the Egyptian bourse has witnessed five new IPOs, most recently of the Cleopatra Hospital and Egyptian white cheese manufacturer, Obourland Group, totalling 2.3 billion pounds, he added.

“Next year, we will see more IPOs.” Omran said.