EGX to hold meeting with petroleum sector companies next Thursday

Fatma Salah
3 Min Read

The Egyptian Exchange (EGX) will hold a meeting with the petroleum sector companies listed on the stock market next Thursday, sources told Daily News Egypt.

The sources added that the meeting will include seven companies listed in the petroleum sector with a number of research centres to increase the research coverage of that company, in order to increase the promotion of the shares of these companies, in addition to working to increase its communication with investors.

The sources indicated that the companies are Abu Qir Fertilizers Company, Sidi Kerir Petrochemicals Company, Alexandria Mineral Oils Company, Egypt Gas, and Misr Fertilizers Production Company, as well as a number of officials of the investor relations departments of the listed companies and a number of officials in the Egyptian Exchange.

The sources added that the purpose is to develop the performance of investor relations with companies and to apply all models and rules that help in effective marketing of companies listed on the stock exchange, and to strengthen mechanisms to enhance trading for the shares of sector companies listed on the stock exchange, given that oil, gas and petrochemicals are at the forefront of the sectors that attract Arab and foreign investors, as they have strong performance indicators and profitability.

On 27 March, Tarek El-Molla, Minister of Petroleum and Mineral Resources, held a meeting with Rami El-Dokani, Chairperson of the Egyptian Exchange, and the petroleum companies listed on the Egyptian Exchange, to take advantage of all opportunities and to efficiently employ the competitive advantages enjoyed by the companies of the petroleum sector listed on the stock exchange, in a way that helps to increase its attractiveness to investors and enhancing the value of shares in line with the significant development in companies’ performance.

Hence, maximizing returns from the listed shares of petroleum companies for the benefit of the Egyptian economy, especially since petroleum and petrochemical companies have demonstrated through their strong performance in the stock exchange in recent years their high competitiveness and that they can offer more in the coming period.

At that time, El-Molla indicated the importance of this step in conjunction with the trend to offer new shares of a number of petroleum companies during the coming period within the government offerings program on the stock exchange, which requires the presence of mechanisms that help achieve trading and the expected demand from investors, which helps the success of these offerings and achieve their goals.

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