Speculative companies excluded from Egyptian Exchange
Egyptian Exchange
Cairo - MENA
Chairman of the Egyptian Exchange Mohamed Omran said he will not allow the enlistment of companies that could distort the reputation of EGX.
EGX has been receiving subscription requests from companies that have no actual activities and are aiming at making a fortune by listing and speculating their shares, Omran told MENA.
On paper, the companies met all the conditions but after the subscription panel studied their requests, it found out they had no assets or projects on the ground and are owned by speculators, he said.
The subscription panel excludes such requests, he stressed.
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