Egypt to swap capital gains for stamp duty to boost stock market investment
Egypt plans to replace capital gains tax with a stamp duty to stimulate institutional investment in the stock exchange, Finance Minister Ahmed Kouchouk announced on Wednesday, as part of a second package of tax facilities aimed at supporting the business
Next phase to see deeper African market integration, new financial instruments: EGX chair
Islam Azzam, Chairperson of the Egyptian Exchange (EGX), said the coming phase will witness deeper cooperation among African markets, alongside the introduction of new financial instruments and strengthened frameworks for transparency and disclosure. These steps, he noted, are expected to
Egypt Kuwait Holding sells 63.4% stake in Delta Insurance to Morocco’s Wafa Assurance for EGP 3.17bn
Egypt Kuwait Holding (EKH) announced the completion of the sale of its entire 63.39% stake in Delta Insurance to Morocco’s Wafa Assurance, under the latter’s mandatory tender offer. In a statement to the Egyptian Exchange (EGX) on Sunday, EKH said
EBRD exits Ibnsina Pharma, sells 8.8% stake on Egyptian Exchange
The European Bank for Reconstruction and Development (EBRD) has fully exited its remaining 8.8% stake in Ibnsina Pharma through the Egyptian Exchange (EGX). EBRD initially acquired a 20% stake in Ibnsina Pharma in 2015, supporting the company’s development by financing
Bonyan plans IPO on EGX by end-February, targeting EGP 5bn in investments
Bonyan Real Estate Investment executives held a press conference on Tuesday to share key updates regarding their forthcoming initial public offering (IPO) on the Egyptian Exchange (EGX). The company announced that it had received official approval for the listing, with
Madbouly orders detailed plan, timeline for listing army-owned companies
Egypt’s Prime Minister Mostafa Madbouly convened a meeting on Monday to review the progress of listing companies affiliated with Egypt’s Armed Forces on the Egyptian Exchange (EGX). This session is part of his ongoing follow-up to ensure the successful listing
Bonyan approved for listing on Egyptian Exchange
Bonyan, a real estate investment company, has received approval to list on the Egyptian Exchange (EGX) under the ticker symbol “BONY.CA”. The company plans to launch its initial public offering (IPO) within the first half of 2025, pending completion of
FRA introduces new rules for securities not listed on EGX
The Board of Directors of the Financial Regulatory Authority (FRA), led by Mohamed Farid, has issued Decision No. 303 of 2024, amending the rules for handling securities not listed on the Egyptian Exchange (EGX). This decision updates the FRA’s previous
Beltone Holding announces capital increase to EGP 21.676bn to fuel expansion, diversification
Beltone Holding has revealed the reasons behind its decision to increase its authorized capital from EGP 11bn to EGP 22bn, and its issued and paid-up capital from approximately EGP 10.926bn to about EGP 21.676bn. The company disclosed these plans in
CI Capital advises on United Bank’s EGP 4.57bn IPO on Egyptian Exchange
CI Capital has announced the successful execution of the EGP 4.57bn initial public offering (IPO) of United Bank, marking a significant milestone in the Egyptian financial market. This transaction, one of the largest in recent years, makes United Bank the