For the second year in a row the London Stock Exchange is today hosting an Egypt Capital Markets Day at its offices in Paternoster Square, London.
The two day event is held in association with EFG-Hermes and supported by the Egyptian Exchange. Over 170 meetings are scheduled to take place between international investors and senior representatives of the 13 Egyptian companies participating in the event.
Dr. Mahmoud Mohieldin, Egypt’s Minister of Investment, will deliver the keynote address and will open the Exchange’s markets on Friday 23 October 2009.
The event takes place shortly before Egyptian Gold miner Centamin Egypt, the largest company by market capitalisation on AIM, moves to the Main Market. Centamin is set to become the eighth company this year to transfer from AIM to the Main Market, having grown from a market capitalisation of £21.5 million at admission in 2001 to over £1 billion today.
Speaking ahead of the event, Tracey Pierce, Head of Equity Capital Markets at London Stock Exchange Group, said
“London continues to be the market of choice for Egyptian companies who are
looking to access an unrivalled pool of global investment capital and who want
to use the liquidity and international profile of a London listing to expand
their businesses globally.
“Situated at the heart of the world’s most international financial centre,
the London Stock Exchange is uniquely placed to facilitate investor meetings
with some of Egypt’s leading companies.”
Six of the firms attending the event are quoted on the London Stock Exchange’s markets.
- Orascom Construction Industries
- Orascom Development Holding
- Ezz Steel
- Telecom Egypt
- Commercial International Bank
- EFG-Hermes
There are currently 10 Egyptian companies on the London Stock Exchange’s markets with a combined market cap of £1.7billion. Egyptian flotations have raised over £800 million and trading in the secondary market also remains strong, with over 86,000 trades in Egyptian securities on the Exchange’s International Order Book so far this year, a 17 per cent increase on the same period last year.