The Egyptian Exchange (EGX) is looking forward to more IPOs for 2021, states Dr. Mohamed Farid, Executive Chairman of EGX, who expects at least 4 new listings, including the recently listed Taaleem Management Services Company.

Farid stated that that the market for public offers on the Egyptian Stock Exchange has been long overdue since the beginning of the Corona pandemic, citing the reason as companies were not able to assess the impact of the pandemic on the market.

The EGX chairman spoke on the sidelines of Taleem’s first day of trading which valued to company at LE 2.05 billion. Taleem is listed as TALM in the EGX.

Farid added that after more than a year has passed, in light of the award and the clarity of the economic dimensions, it is expected that the future will be better in regards to new proposals in various sectors.

Taleem’s IPO today is the first new listing since December 2019, when Rameda went to market

On Monday, Faird disclosed that an agricultural company and a petrochemicals firm will offer shares on the EGX this year, avoiding revealing their names and whether they would be primary or secondary offerings.