Classifieds powered by Gulf News

Egyptian Exchange to launch derivatives soon

The bourse is expecting 5-6 Initial Public offerings from the private sector this year

Gulf News

Dubai: Egyptian Exchange is looking to launch derivatives trading and will decide to go in for futures or options depending on market requirement,

Mohamed Farid, chairman of the Egyptian Exchange told Gulf News.

“We are preparing for derivatives trading. It has been approved by the parliament. We are preparing the technological set-up,” Farid told Gulf News on the sidelines of the EFG Hermes conference.

“If the market wants the starting point to be futures then it will be futures. If they are foreseeing options, then it will be options. We are preparing and the platform will be available for both. We need to finish the technological requirements first and then we will decide on the timings,” Farid said.

The bourse is expecting 5-6 Initial Public offerings from the private sector this year. The official expects two IPOs from financial sector, one from petrochem and one from education and real estate each.

“From the government sector we are waiting for the announcements from the government. regarding the pipeline of IPOs.

Farid, who is also the chairman of the Federation of Euro-Asian Stock Exchange, is also educating investors on the benefits of investing for a long-term.

Earlier at the conference, minister for public enterprises Khaled Badawi said the government is in early discussions to set up a sovereign wealth fund to manage state companies, which may get listed on the Egyptian bourse later.

Loading...