The Egyptian Exchange (EGX) is about to kick off the year with 3 new listings, according to a statement by the Financial Regulatory Authority (FRA).

FRA chairman, Mohamed Omran, revealed that the authority has registered three companies, allowing them to begin their journey to go public on the Egyptian Exchange.

The 3 mentioned companies are Macro Group Pharmaceuticals, Nahr El khair for Development, Investment, and Environmental Service, and Industrial and Engineering Projects Co.

According to the FRA head, Macro Group is expected to list at a fair value (FV) of EGP 3.5 billion, while Nahr el Khair will be listed on the EGX at a FV of EGP 500 million, with Industrial and Engineering Projects Co. to list on Nile X with a FV of EGP 117 million.

The announcement is within the FRA and Egyptian government’s efforts to attract local and foreign investments, as well as diversify investment options.

On a separate note, Omran pointed out that the FRA is close to approve the issuance of 11 securitizations worth a combined EGP 11.5 billion this week.

The FRA also studied 26 bond issuances worth a total of EGP 21.5 billion, of which 15 issuances have been approved at a value of over EGP 10 billion, including the first corporate green bonds worth $100 million (EGP 1.5 billion), he remarked.