|31 December, 2019

Egypt's Stock Exchange targets IPOs of 3-4 private companies in 2020

The last IPO of a private company was earlier this month by the Egyptian generic drug maker Rameda Pharmaceutical

A trader works at the Egyptian stock exchange in Cairo, Egypt September 20, 2018.

A trader works at the Egyptian stock exchange in Cairo, Egypt September 20, 2018.

REUTERS/Mohamed Abd El Ghany

CAIRO - Egypt's Stock Exchange targets to have initial public offerings of three to four private sector companies in 2020, its chairman Mohamed Farid said on Tuesday.

The last IPO of a private company was earlier this month by the Egyptian generic drug maker Rameda Pharmaceutical whose shares dropped by 4.7% at their first trading session.

(Reporting by Ehab Farouk; Writing by Mahmoud Mourad; Editing by Alison Williams) ((mahmoud.mourad@thomsonreuters.com;))

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