{"id":546851,"date":"2022-05-31T04:00:27","date_gmt":"2022-05-31T04:00:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/"},"modified":"2022-05-31T04:00:27","modified_gmt":"2022-05-31T04:00:27","slug":"fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/","title":{"rendered":"FRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d"},"content":{"rendered":"

<\/a> The Financial Regulatory Authority (FRA) wants to see the EGX\u2019s<\/strong> market cap more than double to EGP 1.6 tn by 2026<\/strong>, according to its new four-year strategy (pdf)<\/a> published yesterday.<\/p>\n

This will require almost EGP 1 tn to enter the market over the next four years:<\/strong> The bourse\u2019s current market cap \u2014 across stocks, bonds, funds, OTC trades, and the SME market \u2014 is around EGP 660 bn.<\/p>\n

This aligns with a recent policy statement from the president:<\/strong> President Abdel Fattah El Sisi said recently<\/a> that the government is working on a set of measures aimed at doubling the size of the bourse. This is part of a wider economic strategy announced by the president, which also includes bringing in USD 40 bn in fresh investment<\/a> over the next four years and reducing the public debt and the deficit by 2026.<\/p>\n

Where\u2019s the money coming from?<\/strong> The FRA thinks that the sale of state assets could push the EGX\u2019s market cap as high as EGP 2.6 tn \u2014 and name-checks the potential IPO of the state-owned new capital developer, the Administrative Capital for Urban Development. The government wants to list a number of state- and military-owned companies on the bourse before the end of the year<\/a> as part of its new privatization strategy.<\/p>\n

The target isn\u2019t new: <\/strong>The FRA had originally hoped to hit the EGP 1.6 tn mark by this year, according to its previous strategy in 2018.<\/p>\n

Why did we miss our target?<\/strong> Look no further than covid-19. The regulator now expects market conditions to stabilize as the pandemic recedes and more people get vaccinated, it said.<\/p>\n

Covid isn\u2019t the issue right now:<\/strong> Egypt hasn\u2019t been immune to this year\u2019s global market sell-off, which has hit equities in developed and emerging markets alike. The EGX\u2019s market cap has fallen 13% since the start of the year due to the global risk-off caused by rising interest rates and the war in Ukraine.<\/p>\n

The government tried to draw fresh inflows into the bourse last year:<\/strong> It exempted foreign investors from paying the new capital gains tax (CGT) on stock trades<\/a> and passed a set of tax cuts and fee deductions<\/a> to keep local investors in the market.<\/p>\n

And support trading following the EGP devaluation in March:<\/strong> In response to the EGP devaluation<\/a>, the government slashed CGT on gains from IPOs by 50% for the next two years and pledged to reduce the withholding tax on dividends.<\/p>\n

FUTURE FLOW SECURITIZATION IS ABOUT TO GET REAL<\/strong><\/p>\n

On the brink of our first future flow issuance? <\/strong>The regulator has received a request from an unidentified firm to issue EGP 2 bn worth of securities backed by expected future cashflows, Bloomberg Asharq<\/a> quotes FRA head Mohamed Omran as saying. Omran did not give an exact timeframe for the expected issuance, saying only that it is \u201cimminent.\u201d<\/p>\n

We know of two companies keen to sell future flow securities: <\/strong>EGX-listed private sector education outfit CIRA is reportedly in talks<\/a> with the FRA to issue EGP 1.5 bn worth of future flow securities and could take its issuance to market within four months, a source previously told us, adding that talks remain at an early stage. Contact Financial Holding is also in talks<\/a> with the FRA to securitize future flows in 2H 2022 on behalf of \u201cone of the largest corporate firms in Egypt,\u201d CFO Ayman Elsawy told us<\/a> earlier this year.<\/p>\n

Future flummoxed? <\/strong>Check out our fresh explainer on all things future flow<\/a> here.<\/p>\n

NOBODY WANTS TO LAUNCH A NEW RATINGS AGENCY?<\/strong><\/p>\n

The FRA has not received any requests for <\/strong>licenses to operate credit rating agencies <\/strong>since it loosened restrictions to encourage local players to set up shop, Al Borsa<\/a> quotes Omran as saying.<\/p>\n

Step up, IPF:<\/strong> Omran urged the Investor Protection Fund<\/a> to apply to set up an agency to help keep pace with growing demand from companies to issue securities in the local debt market.<\/p>\n

BACKGROUND:<\/strong> The FRA in February scrapped a requirement for credit rating agencies to be at least 10% owned by international firms in a move meant to increase the number of local credit-rating firms and boost our non-banking financial sector. FRA Deputy Chairman Islam Azzam said<\/a> then that an unidentified company was in talks with the regulator over gaining a license and could launch soon, though the firm in question hadn\u2019t officially submitted any documents to the regulator at the time.<\/p>\n

Egypt has only one local credit rating agency right now:<\/strong> MERIS<\/a> (Middle East Rating & Investors Service) is a joint venture between Moody\u2019s and Finance and Banking Consultants International (FinBi), and provides ratings for financial institutions, corporate issuers, and structured finance transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Financial Regulatory Authority (FRA) wants to see the EGX\u2019s market cap more than double to EGP 1.6 tn by 2026, according to its new four-year strategy (pdf) published yesterday. This will require almost EGP 1 tn to enter the market over the next four years: The bourse\u2019s current market cap \u2014 across stocks, bonds, […]<\/p>\n","protected":false},"author":1,"featured_media":546852,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7303],"tags":[102,799,68,72,76,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-credit-rating","tag-egx","tag-enterpriseam","tag-financial-regulatory-authority","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"f372516a-54a6-437b-921f-c9d8684fffd1","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/412.jpg","photo_position":"above","related_issue":[546843],"teaser":"","voice_url":""},"yoast_head":"\nFRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d\" \/>\n<meta property=\"og:description\" content=\"The Financial Regulatory Authority (FRA) wants to see the EGX\u2019s market cap more than double to EGP 1.6 tn by 2026, according to its new four-year strategy (pdf) published yesterday. This will require almost EGP 1 tn to enter the market over the next four years: The bourse\u2019s current market cap \u2014 across stocks, bonds, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-31T04:00:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d\",\"datePublished\":\"2022-05-31T04:00:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/\"},\"wordCount\":781,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1\",\"keywords\":[\"capital markets\",\"credit rating\",\"EGX\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"IPO watch\"],\"articleSection\":[\"Capital markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/\",\"name\":\"FRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-05-31T04:00:27+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"FRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/","og_locale":"en_US","og_type":"article","og_title":"FRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d","og_description":"The Financial Regulatory Authority (FRA) wants to see the EGX\u2019s market cap more than double to EGP 1.6 tn by 2026, according to its new four-year strategy (pdf) published yesterday. This will require almost EGP 1 tn to enter the market over the next four years: The bourse\u2019s current market cap \u2014 across stocks, bonds, […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-05-31T04:00:27+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"FRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d","datePublished":"2022-05-31T04:00:27+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/"},"wordCount":781,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1","keywords":["capital markets","credit rating","EGX","EnterpriseAM","Financial Regulatory Authority","IPO watch"],"articleSection":["Capital markets"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/","name":"FRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1","datePublished":"2022-05-31T04:00:27+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/fra-releases-four-year-strategy-to-boost-egx-liquidity-says-our-first-future-flow-issuance-is-imminent\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"FRA releases four-year strategy to boost EGX liquidity + says our first future flow issuance is \u201cimminent\u201d"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/412.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":566080,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/26\/iron-and-steel-for-mines-and-quarries-to-list-tomorrow\/","url_meta":{"origin":546851,"position":0},"title":"Iron and Steel for Mines and Quarries to list tomorrow","author":"enterpriseam admin","date":"26 May 2021","format":false,"excerpt":"Shares of state-owned Egyptian Iron and Steel\u2019s mining spinoff \u2014 Iron and Steel for Mines and Quarries \u2014 will be listed on EGX at the end of tomorrow\u2019s session after the EGX\u2019s securities registration committee this morning greenlit the move, according to a bourse disclosure(pdf). Egyptian Iron and Steel\u2019s five-working-day\u2026","rel":"","context":"In "SPEED ROUND: CAPITAL MARKETS"","block_context":{"text":"SPEED ROUND: CAPITAL MARKETS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557266,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/13\/the-fra-is-making-it-easier-to-list-on-the-egx\/","url_meta":{"origin":546851,"position":1},"title":"The FRA is making it easier to list on the EGX","author":"enterpriseam admin","date":"13 September 2021","format":false,"excerpt":"Egypt\u2019s financial regulator is making it easier for large companies to list on the EGX. New listing amendments (pdf) that were announced (pdf) yesterday by the Financial Regulatory Authority (FRA) will reduce the amount of capital that companies need to offer to the public in a move designed to encourage\u2026","rel":"","context":"In "Capital markets"","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/163.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547924,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/19\/investors-to-bid-for-rating-agency-license-this-quarter\/","url_meta":{"origin":546851,"position":2},"title":"Investors to bid for rating agency license this quarter","author":"enterpriseam admin","date":"19 July 2022","format":false,"excerpt":"A second local credit rating agency could be in the works: A group of investors led by MGM Banking and Financial Consultants Chairman Gamal Moharram is in talks with the Financial Regulatory Authority (FRA) for a license to operate a credit rating agency, Dreny and Partners Founding Partner Moataz Dreny\u2026","rel":"","context":"In "Capital markets"","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548242,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/fra-could-double-egx-freefloat-requirements-to-boost-liquidity\/","url_meta":{"origin":546851,"position":3},"title":"FRA could double EGX freefloat requirements to boost liquidity","author":"enterpriseam admin","date":"1 August 2022","format":false,"excerpt":"FRA could double EGX freefloat requirements: The Financial Regulatory Authority (FRA) is studying the possibility of increasing the minimum freefloat requirement for EGX-listed companies to 10% of their total shares, up from a current 5%, FRA Chairman Mohamed Omran told CNBC Arabia yesterday. The FRA chief says the move would\u2026","rel":"","context":"In "Capital markets"","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/99.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591280,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/02\/short-selling-comes-to-the-egyptian-stock-market\/","url_meta":{"origin":546851,"position":4},"title":"Short selling comes to the Egyptian stock market","author":"enterpriseam admin","date":"2 December 2019","format":false,"excerpt":"Short selling comes to the EGX: The EGX and Misr for Central Clearing, Depository & Registry (MCDR) yesterday launched short selling on the bourse following approval by the Financial Regulatory Authority (FRA), sources told Al Mal. Beltone and HC Securities were the first brokerages to complete a short selling transaction\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542727,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/","url_meta":{"origin":546851,"position":5},"title":"One step closer to Macro\u2019s IPO","author":"enterpriseam admin","date":"13 January 2022","format":false,"excerpt":"Cosmeceuticals giant Macro Group\u2019s shares will be listed on the EGX today after receiving the blessing of the bourse\u2019s listing committee yesterday, according to an EGX statement (pdf) yesterday. The listing will pave the way for company\u2019s plan to offer up to 45.8% of its shares (which will trade under\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/152.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546851"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546851\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546843"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546852"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546851"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546851"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}