By Doaa Farid
Head of the bourse Atef El-Sherif, announced that six Arab Gulf companies from Kuwait and the United Arab Emirates are expected to be listed on the Egyptian Stock Exchange soon in the context of the dual listing between the Egyptian exchange and the Gulf bourses.
“We’re still in the negotiation phase with these companies, and only one Kuwaiti telecommunication company had submitted an official request,” he said.
El-Sherif said the companies from Kuwait are in the fields of telecommunication and petroleum and one Emirati company is in the real estate market. “The names of the companies will be announced as soon as the agreement is officially made,” he added confirming that these companies are listed in the Gulf bourses.
He said the addition of these companies to the stock market will appeal to investors who are looking for the quality represented by these companies.
The negotiations between the stock market and these companies started several months ago, and continued after El-Sherif was appointed as the head of the bourse in June.
“After this announcement, more Arab Gulf companies are willing to be listed on the Egyptian stock market,” said El-Sherif.