2 Egyptian Exchange listings expected after Bairam

The Egyptian Exchange (EGX) is expected to list two new companies after the Lesser Bairam, Chairman Mohamed Omran said Wednesday.

Beltone Capital and Al Salam Group Holding are close to finalizing procedures to get listed on the EGX, Omran told MENA.

Beltone's capital is estimated to reach 584 million pounds, the total value of 58.4 million shares to be traded on the EGX, Omran said.

Al Salam Group Holding will be trading 25.6 million shares worth a total of 256 million dinars, he added.

The EGX is adopting a strategy to lure big companies to enter the market with the aim to increase investment opportunities in the country, Omran said.

The EGX has witnessed three major listings that exceeded 10 billion pounds since the beginning of 2015, namely Orascom Construction, Edita and Emaar Misr.

In 2014, the EGX management listed 13 new firms in the main market and NILEX with total capitals worth 1.9 billion pounds, 10 times higher than the capital of the firms listed in 2013.