Digitize moves to EGX’s main market less than a year after its SME market debut

Digitize pivots to the EGX’s main market: ICT solutions firm Digitize for Investmentand Technology has moved from the EGX’s small and medium enterprises (SME) market to the main market, according to an ICT Ministry statement. The move will give Digitize access to a wider financial market in a bid to fund the company’s expansion plans, Chairman Yousry Atlm said.

The company has come a long way: Digitize has grown its capital 8x since its debuton theSME marketin October, Atlm told Asharq Business, adding that the company’s earnings have doubled over the past two years.

About Digitize: Founded in 2015, Digitize offers a range of ICT solutions and engineering services that seek to aid its clients’ digital transformation. These include communications infrastructure, cloud solutions, fiber optic cabin maintenance, and data center and surveillance solutions.

The SME market is a launchpad for growth: Five companies have so far completed their transition from the SME market to the main market, bourse head Ahmed El Sheikh said. The SME market serves as a “business incubator” where companies can list for 3 to 5 years as they work to raise capital and implement expansion plans that ultimately propel them to the main market, he said.