Within the efforts performed to attract more companies to list on the Egyptian Exchange (EGX) and to encourage state-owned companies to benefit from the capital market as a platform to finance their expansions, EGX is coordinating with 3 new companies belonging to the petroleum sector to list on the Egyptian Exchange during the coming period, with a total capital of more than LE 8.5 billion.
The companies are The Middle East for Oil Refining Company (MIDOR) with a capital of US $ 1.1 billion, Gaz Cool Company with a capital of LE 125.5 million and Nile for Oil Marketing Company with a capital of LE 50 million, which comes in light of some ministries’ trend, specially the Ministry of Petroleum, to get benefit of the stock exchange as one of the important funding means.
Dr. Mohammad Omran, EGX Chairman said that listing such companies is an important addition to the Egyptian capital market, wishing that more state-owned companies depend on EGX with regard to their investment and expansion future plans.
