|19 August, 2019

Egypt's bourse chairman says he expects IPO of private company this year

The bourse chairman did not give any additional details

The Egyptian Exchange bell is seen at the stock exchange in Cairo, April 28, 2015. Image used for illustrative purpose

The Egyptian Exchange bell is seen at the stock exchange in Cairo, April 28, 2015. Image used for illustrative purpose

REUTERS/Mohamed Abd El Ghany

CAIRO - Shares in a private company are expected to be offered on the Egyptian stock exchange before the year's end, the bourse chairman said at a news conference on Monday.

Mohamed Farid did not give any additional details.

The last IPO of a private company was digital payments company Fawry, whose shares jumped more than 35% at their first trading session.

(Reporting by Ehab Farouk; Writing by Nadine Awadalla; Editing by Alison Williams) ((Nadine.Awadalla@thomsonreuters.com;))

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