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Banque du Caire, Misr Insurance to be offered on stock exchange

Companies offered on the stock exchange, including Banque du Caire and Misr Insurance company, will attract local and foreign investors, Mohamed Maher, head of the Egyptian Capital Market Association (ECMA), said.

The data of companies to be offered on the stock exchange will be released next week, he added.

Maher added in televised statements that the flotation of the pound relatively provided hard currency, prompting the market to move in a positive direction.

The market capital of the Egyptian Stock Exchange rose by the end of Sunday’s trading session to LE1.112 trillion, amid a collective rise in the stock market indices, as the market capital recorded the highest historical value.

Stock indexes have a long way to go to reflect the value of real assets, Rania Yacoub, a financial market expert, said, pointing out that the stock market’s rise to LE1.112 trillion is still far from the real value of Egyptian assets.

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