Three local energy-related firms to list on Egypt stock exchange

Three local energy-related firms with combined capital of more than 8.5 billion Egyptian pounds ($1.11 billion) intend to list on Egypt’s stock exchange, the bourse said on Tuesday.

The listings form part of a flurry of initial public offerings, mergers and rights issues that have boosted activity on the EGX 30 Index, which had struggled to win investor confidence during years of political and economic turmoil since Egypt’s popular uprising of 2011.

The EGX has attracted six new companies in the first quarter of 2015, representing combined capital of around four billion pounds.

EGX is “coordinating with the three new companies in the petroleum sector with capital of more than 8.5 billion pounds that are planning to list in the coming period,” the exchange said in a statement.