An energy firm will soon make its debut on the Egyptian Exchange (EGX),EGX boss Ramy El Dokany told CNBC Arabic in an interview, without naming the firm. The bourse hopes to finish listing procedures for the company within a week or two and for trading to commence within the next two months, he said.

A first for 2023: The listing would mark the first for the main index this year after economic headwinds on the back of the war in Ukraine saw the fresh-paper pipeline all but dry up. 2022 saw just two IPOs: Macro Group and Al Khair River for Development and Investment.

Goodbye, EGX50: The exchange is terminating its EGX50 index due to its limited usefulness and will launch a new shariah-compliant index, El Dokany added. The EGX boss previously suggested that the index could launch this summer.

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