Despite the slump in the price indicators, 2015 was the second best year for the Egyptian stock market (EGX) following 2014 since the 25 January Revolution in 2011, according to EGX’s 2015 report issued Wednesday.
The value of the traded stocks amounted to EGP 120bn, with an average value of traded stocks per day recorded at EGP 500m.
A total of 49 companies added a total of EGP 14bn in capital to the EGX, marking a 50% increase in the total capital added to the exchange in 2014.
The year 2015 saw the listing of 15 new companies in the bourse compared with the three that were listed last year marking the largest addition since 2008. EGX registered the highest number of IPOs (initial public offering) in ten years and the highest rate in the region.
Concluded acquisitions in the Egyptian market in 2015 increased by a factor of 37 compared to 2014, registering EGP 16bn in value, when 11 deals were finalised.
Also in 2015, EGX issued a new index to meet the growing needs of investors, called EGX 50 EWI, which will provide information on the 50 most active companies in the stock market.
The report added that the amendments that EGX held on the listing regulations have helped improve the investment climate since the 2015 report of the World Bank member, the International Finance Corporation (IFC), has ranked Egypt among the six best countries in the category of ease of doing business.