Egypt’s $372m e-finance IPO may herald privatizations

Egyptian Exchange EGX boosted by IPO share offer

E-Finance for Digital and Financial Investments, raised $372m in an oversubscribed IPO on the Egyptian Exchange (EGX). Does the biggest share offer in EGX history unblock Egypt’s multi-billion pound privatization pipeline?

Investors optimistic about change in Egypt

Bulls seem to be waiting for a positive outcome from widespread pro-democracy unrest in Egypt, one of Africa’s biggest stock markets and prices have climbed for depository receipts of Egyptian companies and for an Egypt exchange-traded fund available internationally. The Egyptian Exchange has been closed for several days as unrest intensified.