Speaking during a bell-ringing ceremony marking the company’s transfer to the main market, Radwan said Future Care began its capital market journey on 30 December 2012 with capital of around EGP 4 million and no more than eight shareholders.
Omar Radwan, Chairman of the Egyptian Exchange (EGX), said Future Care for Medical Industries’ move from the Nile Exchange, the market for small and medium-sized enterprises, to the main market reflects the company’s strong growth since listing, as well as its compliance with listing, disclosure and governance requirements.
Speaking during a bell-ringing ceremony marking the company’s transfer to the main market, Radwan said Future Care began its capital market journey on 30 December 2012 with capital of around EGP 4 million and no more than eight shareholders.
Since then, the company has continued to grow through a series of capital increases, alongside an expansion strategy in the healthcare sector.
Its issued capital has now risen to around EGP 115 million from approximately EGP 4 million at the time of listing, while its shareholder base has expanded to 4,966 investors. Its free float has also exceeded 99.99%.
Radwan said the company’s expected market capitalisation following the listing of the capital increase shares stands at approximately EGP 885.7 million, based on its latest traded share price of EGP 7.69.
He added that companies moving from the Nile Exchange to the main market is one of the clearest indicators of the SME market’s success in preparing businesses for growth and helping them reach higher levels of listing and trading.
Such transfers, he noted, deepen the market and broaden the range of investment opportunities available to investors.
