Trading in Egyptian bourse hit record of over EGP 1 tln in 2021

Ahram Online , Tuesday 4 Jan 2022

Trading values of listed and unlisted stocks in the Egyptian Stock Exchange (EGX) hit over EGP 1 trillion in 2021, recording an increase from values of EGP 670 billion in 2020, Board Chairman of EGX Mohamed Farid said on Tuesday.

Board Chairman of Egyptian Stock Exchange (EGX) Mohamed Farid (L) speaks wit Prime Minister Moustafa Madbouly in a meeting on Tuesday, 4 January 2022. (Photo Courtesy of the Egyptian Cabinet)

Trading on bonds rose to an all-time high of EGP 544 billion in 2021, Farid added during a meeting with Prime Minister Mostafa Madbouly, citing an annual report on the stock market status last year named "2021 the year of managing recovery, gearing up for the future."

The capital of the listed companies rose by EGP 20 billion, compared to EGP 8.7 billion in the year prior, the report added.

Initial Public offerings IPOs hit over EGP 12 billion, up from EGP 2.6 billion in 2020 and EGP 950 million in 2004.

Egypt has recently resumed its initial public offering (IPO) programme for the state-owned enterprises following a brief pause due to the coronaovirus pandemic.

Farid said the annual report reflects the improvement realised in the performance of main EGX indices despite the challenges posed by the coronavirus pandemic.

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