EGX Chairman participates in RiseUp Summit
Posted: Monday, 9 Dec 2019
Chairman of The Egyptian Exchange (EGX), Mohamed Farid Saleh, participated in the RiseUp
Summit 2019 held on 5-7 December at The American University in Cairo (AUC).
During his session entitled “Successful IPO Journey with EGX”, Farid said that the keenness of
youngsters to participate in the RiseUp Summit is a great opportunity for EGX to explain its role
in supporting their businesses and allowing them to access financing required for their
expansion. This session is also an opportunity to update them with developments in the Capital
markets and demonstrating new investments tools introduced to the market during 2019.
He added, “The value chain of any capital market is composed of three aspects: supply,
intermediation, and demand. We definitely need more awareness, and that is part of the
efforts that we are doing. However, brokerage companies, investment banks, asset
management firms, and financial advisors need to complement these efforts to increase the
participation ratio of the public in capital markets,”
On the demand-side level, EGX’s management organizes educational sessions for university
students and employees of a number of companies in various economic sectors to introduce
the basics of investing in the stock exchange.
On the intermediate level, The Egyptian Exchange worked on the activation of new financial
mechanisms and products and taking solid measures to simplify the trading process and
increase liquidity rates, the latest of which is the activation of the short-selling mechanism.
On the supply side, EGX managements worked to raise the efficiency and quality of the
disclosures rules and working to communicate with unlisted companies to introduce them to
the benefits, procedures and rules for listed.
From his side, Mohamed Okasha, Managing Director of Fawry, also participating in this session,
said that listing in EGX was the result of effective communication between his company and
EGX’s management to inform his company of benefits of listing in EGX, and to explain the
advantages, procedures and rules of listing and offering.
He added, "Listing on EGX opened the door for many similar companies to follow," stressing
that an immediate presence on EGX platform enables them to obtain the funds required by
international investment funds even more than the local ones.
Farid concluded the session stating that EGX witnessed a paradigm shift and has changed how it
operates, embracing a more proactive manner, according to the Chairman. He invited young
participants to invest in The Egyptian Capital Market even with small amounts, adding that the
EGX’s financial literacy programs will allow them to understand the basics of investment.