In a press conference held in the Egyptian Stock Exchange on 12 June 2008, the Minister of Investment Dr. Mahmoud Mohi El-Din together with EGX Chairman Maged Shawky announced the listing of the first two companies on Nilex; the newly launched mid and small cap market. The Press conference was attended by representatives from entities supporting medium and small enterprises in Egypt; together with a number of investment banks leaders as well as the nominated advisors.The Minister of Investment highlighted the importance of the new market in enhancing the economic growth as the sector contributes with 80% of the economic activity in Egypt. On the other hand, Mr. Maged Shawky, EGX Chairman, announced that since the launch of Nilex in October 2007, the Egyptian Exchange started an intensive promotional campaign to increase the SMEs awareness about the benefit of getting listed on the stock market. He further pointed out that several companies applied for listing through their nominated advisors, and these requests are currently under study, asserting that Nilex will be mainly targeting companies with high growth potential.In that respect, the CEO of Naeem for Financial Investment, Mr. Basel Al-Hini; asserted the nominated advisor's role in advising and assisting the applicant company on all its responsibilities during the application process and its responsibilities to maintain its status once listed. Additionally, it helps the company in its initial public offering of its shares and in fulfilling its ongoing disclosure obligations as well.
In a press conference held in the Egyptian Stock Exchange on 12 June 2008, the Minister of Investment Dr. Mahmoud Mohi El-Din together with EGX Chairman Maged Shawky announced the listing of the first two companies on Nilex; the newly launched mid and small cap market. The Press conference was attended by representatives from entities supporting medium and small enterprises in Egypt; together with a number of investment banks leaders as well as the nominated advisors.
The Minister of Investment highlighted the importance of the new market in enhancing the economic growth as the sector contributes with 80% of the economic activity in Egypt. On the other hand, Mr. Maged Shawky, EGX Chairman, announced that since the launch of Nilex in October 2007, the Egyptian Exchange started an intensive promotional campaign to increase the SMEs awareness about the benefit of getting listed on the stock market. He further pointed out that several companies applied for listing through their nominated advisors, and these requests are currently under study, asserting that Nilex will be mainly targeting companies with high growth potential.
In that respect, the CEO of Naeem for Financial Investment, Mr. Basel Al-Hini; asserted the nominated advisor's role in advising and assisting the applicant company on all its responsibilities during the application process and its responsibilities to maintain its status once listed. Additionally, it helps the company in its initial public offering of its shares and in fulfilling its ongoing disclosure obligations as well.
The The Egyptian Exchange, in collaboration with Eitesal Association, held yesterday, 15 April 2008, a workshop for Mid & Small ICT companies, highlighting the benefits of getting listed on Nilex; the newly launched mid and small cap market in the stock exchange. The workshop was attended by representatives from almost 70 ICT companies, who are interested to tap the stock market to raise capital for the expansion and development of their businesses, together with the nominated advisors as well as a number of ICT associations, funding agencies and major projects for SMEs.Mr. Maged Shawky, Chairman of EGX, highlighted the exchange strategic objectives in establishing a new market for mid & small cap companies, which should provide a large segment of SMEs with an access to long term finance to grow and expand their businesses to create more competitive entities in both domestic and international markets. The workshop also addressed the regulatory framework governing Nilex.From another perspective, a group of nominated advisors also emphasized their role in assisting the companies on different fronts; including, but not limited to, the company's internal restructure together with the company's fulfillment to the listing and disclosure rules. This workshop came within a series of meetings and seminars which are planned to be held by EGX in the upcoming period, aiming at putting the nominated advisors along with the mid & small cap companies.Worth mentioning that EGX new market for medium and small enterprises (NILEX) was launched at the end of 2007. To date, eight companies have been granted an approval from the Capital Market Authority to act as Nominated Advisor and the first company will be soon listed on Nilex.
The The Egyptian Exchange, in collaboration with Eitesal Association, held yesterday, 15 April 2008, a workshop for Mid & Small ICT companies, highlighting the benefits of getting listed on Nilex; the newly launched mid and small cap market in the stock exchange. The workshop was attended by representatives from almost 70 ICT companies, who are interested to tap the stock market to raise capital for the expansion and development of their businesses, together with the nominated advisors as well as a number of ICT associations, funding agencies and major projects for SMEs.
Mr. Maged Shawky, Chairman of EGX, highlighted the exchange strategic objectives in establishing a new market for mid & small cap companies, which should provide a large segment of SMEs with an access to long term finance to grow and expand their businesses to create more competitive entities in both domestic and international markets. The workshop also addressed the regulatory framework governing Nilex.
From another perspective, a group of nominated advisors also emphasized their role in assisting the companies on different fronts; including, but not limited to, the company's internal restructure together with the company's fulfillment to the listing and disclosure rules.
This workshop came within a series of meetings and seminars which are planned to be held by EGX in the upcoming period, aiming at putting the nominated advisors along with the mid & small cap companies.
Worth mentioning that EGX new market for medium and small enterprises (NILEX) was launched at the end of 2007. To date, eight companies have been granted an approval from the Capital Market Authority to act as Nominated Advisor and the first company will be soon listed on Nilex.
The Minister of Investment; Dr. Mahmoud Mohei El Din, together with EGX Chairman; Mr. Maged Shawky, have launched today October 25 th 2007, EGX new market for medium and small enterprises (NILEX), which is the first mid and small cap market in the MENA region. The new market will provide medium and small companies with a long term access to capital, which helps them grow their businesses and increase their competitiveness as well as raise their contribution to the economic growth.Guest of honor, Mr. Gamal Mubarak, General Secretary of Policies Committee at the National Democratic Party (NDP), together with Engineer Rasheed Mohamed Rasheed, Minister of Trade and Industry, Dr. Osman Mohammed Osman, Minister of Planning and Economic Development, Dr.Ahmed Saad Abd Al-Latif, Chairman of the Capital Market Authority and Dr. Ziad Bahaa Eldin, Chairman of the General Authority for Investment and Free Zones' Board of Trustees, have attended the event, in addition to other market participants and a group of promising mid and small cap companies.
The Minister of Investment; Dr. Mahmoud Mohei El Din, together with EGX Chairman; Mr. Maged Shawky, have launched today October 25 th 2007, EGX new market for medium and small enterprises (NILEX), which is the first mid and small cap market in the MENA region. The new market will provide medium and small companies with a long term access to capital, which helps them grow their businesses and increase their competitiveness as well as raise their contribution to the economic growth.
Guest of honor, Mr. Gamal Mubarak, General Secretary of Policies Committee at the National Democratic Party (NDP), together with Engineer Rasheed Mohamed Rasheed, Minister of Trade and Industry, Dr. Osman Mohammed Osman, Minister of Planning and Economic Development, Dr.Ahmed Saad Abd Al-Latif, Chairman of the Capital Market Authority and Dr. Ziad Bahaa Eldin, Chairman of the General Authority for Investment and Free Zones' Board of Trustees, have attended the event, in addition to other market participants and a group of promising mid and small cap companies.
