{"id":568583,"date":"2020-01-28T04:04:21","date_gmt":"2020-01-28T04:04:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/28\/foreigners-net-buyers-of-egyptian-securities-in-2019-more-from-mohamed-farid\/"},"modified":"2020-01-28T04:04:21","modified_gmt":"2020-01-28T04:04:21","slug":"foreigners-net-buyers-of-egyptian-securities-in-2019-more-from-mohamed-farid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/28\/foreigners-net-buyers-of-egyptian-securities-in-2019-more-from-mohamed-farid\/","title":{"rendered":"Foreigners net buyers of Egyptian securities in 2019 + more from Mohamed Farid"},"content":{"rendered":"

<\/a> Strong appetite for Egypt\u2019s fixed-income assets meant that net foreign<\/strong> purchases of Egyptian securities came in at EGP 42.3 bn last year,<\/strong> despite equities seeing EGP 1.7 bn in net outflows, EGX boss Mohamed Farid said in an interview yesterday<\/a>. This trend isn\u2019t exclusive to Egypt Farid says. Foreign investors are becoming increasingly drawn towards fixed-income investments across emerging markets due to last year\u2019s trade volatility, he adds.<\/p>\n

The bourse will try to bring back foreigners by launching new trading platforms and making the EGX a one-stop shop<\/strong>, Farid says. The EGX is expected to launch a derivatives exchange during the first half of the year<\/a>, and a secondary bond market. An Egyptian Commodity Exchange<\/a> is also slated to begin trading in September.<\/p>\n

The cost of launching a company specialized in clearing derivatives contracts should be around EGP 57-60 mn,<\/strong> Farid added. This company will be set up with Misr for Central Clearing, Depository and Registry (MCDR) in time for launching the new market, we noted last year<\/a>.<\/p>\n

Background on the new instruments: <\/strong>Amendments to the Capital Markets Act in 2018<\/a> opened the door for new financial instruments such as short-selling, futures, sukuk, and green bonds.<\/p>\n

IPO WATCH- An unnamed company valued at less than EGP 1 bn will sell shares in an initial public offering on the EGX this quarter,<\/strong> Farid said, without giving any details. The company made the decision as a result of the exchange's recent efforts to market for and incentivize new listings, he said. The EGX has so far tried to lure 235 companies to list on the exchange. Of the 235, 14 companies are seriously considering listing, 24 see listing as a likely possibility, 46 are studying it, 67 are willing but not now, and 81 have no intention whatsoever, Farid said.<\/p>\n

The outlook for this year is looking slightly more favorable than 2019. <\/strong>Last year, only three companies \u2014 state-owned Eastern Company, e-payments platform Fawry, and pharma player Rameda \u2014 listed new shares on the EGX, despite healthy macro indicators and the CBE lowering interest rates by 450 bps. This year the state privatization program is expected to pick up, with Banque du Caire<\/a> and E-Finance<\/a> both IPOing in the first half of the year, and Heliopolis Housing lined up to sell a secondary stake before May<\/a>. Qalaa Holdings is also planning to sell 30% of subsidiary TAQA Arabia\u2019s shares<\/a> in an IPO this year. Other private companies, which Farid did not name, are also slated to sell shares in 2020.<\/p>\n

\"enterprise\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Strong appetite for Egypt\u2019s fixed-income assets meant that net foreign purchases of Egyptian securities came in at EGP 42.3 bn last year, despite equities seeing EGP 1.7 bn in net outflows, EGX boss Mohamed Farid said in an interview yesterday. This trend isn\u2019t exclusive to Egypt Farid says. Foreign investors are becoming increasingly drawn towards […]<\/p>\n","protected":false},"author":1,"featured_media":568584,"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":[8572],"tags":[102,1052,72,78,2221,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-capital-markets","tag-derivatives","tag-enterpriseam","tag-ipo-watch","tag-mohamed-farid","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f8423d95-d91a-42f2-8a97-0d76bcdcbe07","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/717.jpg","photo_position":"above","related_issue":[568578],"teaser":"","voice_url":""},"yoast_head":"\nForeigners net buyers of Egyptian securities in 2019 + more from Mohamed Farid - 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\/2020\/01\/28\/foreigners-net-buyers-of-egyptian-securities-in-2019-more-from-mohamed-farid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreigners net buyers of Egyptian securities in 2019 + more from Mohamed Farid\" \/>\n<meta property=\"og:description\" content=\"Strong appetite for Egypt\u2019s fixed-income assets meant that net foreign purchases of Egyptian securities came in at EGP 42.3 bn last year, despite equities seeing EGP 1.7 bn in net outflows, EGX boss Mohamed Farid said in an interview yesterday. 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Since the EGP float in November 2016, foreigners have injected EGP 13 bn into the EGX. The EGX30 has increased 19% this year and \u201cannual trading has exceeded\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594727,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/05\/short-selling-coming-to-the-market-before-year-end\/","url_meta":{"origin":568583,"position":1},"title":"Short selling coming to the market before year-end","author":"enterpriseam admin","date":"5 September 2019","format":false,"excerpt":"Expect short selling to be activated before year end: Short selling is set to be activated before year-end, EGX Chairman Mohamed Farid told Bloomberg TV (watch; runtime 6:18) and Reuters in two separate interviews. \u201cBefore the end of the year we are going to see short selling up and running\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\/2019\/9\/Mohamed-Farid-EGX-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625740,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/14\/the-egx-is-expected-to-see-4-5-ipos-over-the-coming-eight-months\/","url_meta":{"origin":568583,"position":2},"title":"The EGX is expected to see 4-5 IPOs over the coming eight months","author":"enterpriseam admin","date":"14 August 2018","format":false,"excerpt":"IPO WATCH- The EGX is expected to see 4-5 IPOs over the coming eight months, EGX boss Mohamed Farid told Reuters\u2019 Arabic service in an interview. Farid did not delve into the specifics of the listings, except to say that these companies are expected to raise as much as EGP\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593567,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/02\/derivatives-trading-and-egypts-first-futures-exchange-are-coming-next-year-farid\/","url_meta":{"origin":568583,"position":3},"title":"Derivatives trading and Egypt\u2019s first futures exchange are coming next year -Farid","author":"enterpriseam admin","date":"2 October 2019","format":false,"excerpt":"Futures exchange, derivatives trading are coming next year: Egypt could launch derivatives trading and its first futures exchange in 1H2020, EGX boss Mohamed Farid said yesterday, according to the local press. No further details were provided on the plans to introduce the new financial instruments, which have been in the\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623422,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/30\/egyptian-exchange-boss-farid-says-global-volatility-risks-countries-adopting-inward-looking-growth-models\/","url_meta":{"origin":568583,"position":4},"title":"Egyptian Exchange boss Farid says global volatility risks countries adopting \u201cinward-looking\u201d growth models","author":"enterpriseam admin","date":"30 October 2018","format":false,"excerpt":"** #6 Global economic volatility could force countries to adopt \u201cinward-looking,\u201d consumer-driven growth models, says Farid: Global economic volatility could lead to policy changes and new growth models being adopted around the world, EGX Chairman Mohamed Farid told Zawyaon the sidelines of the annual conference of the Federation of Euro-Asian\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599630,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/06\/egx30-falls-13-2-in-2018-amid-emerging-markets-sell-off\/","url_meta":{"origin":568583,"position":5},"title":"EGX30 falls 13.2% in 2018 amid emerging markets sell-off","author":"enterpriseam admin","date":"6 January 2019","format":false,"excerpt":"**#1 The Egyptian bourse\u2019s benchmark EGX30 index fell 13.2% in 2018 amid global markets fluctuations and the emerging markets sell-off, EGX Chairman Mohamed Farid said. Farid noted that EGX50 also fell 16.3% last year. Foreign purchases in the EGX dropped to EGP 5.73 bn in 2018 from EGP 9.55 bn\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\/2019\/1\/813.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\/568583","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=568583"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568583\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/568578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/568584"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=568583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=568583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=568583"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=568583"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=568583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}