The Egyptian Stock Exchange has witnessed several major listings over the years, with varying values in Egyptian pounds and US dollars, based on exchange rates at the time of each listing. According to Mohamed Sabri, Deputy Head of the Egyptian Stock Exchange, the listing of Telecom Egypt in December 2005 is the largest in terms of dollar value. The company's listing was valued at 4.479 billion pounds, equivalent to approximately $779.1 million, based on an exchange rate of 5.75 pounds per dollar.
Telecom Egypt tops the list of largest listings in dollar value. In second place is the listing of E-Finance for Financial Investments and Digital Technology, valued at 5.84 billion pounds in October 2021, equivalent to $371.73 million, based on an exchange rate of 15.7115 pounds per dollar. This listing marked a significant milestone for the Egyptian Stock Exchange, demonstrating its ability to attract major companies.
Emmar Egypt for Development ranks third in terms of listing value, with its initial trading on July 5, 2015, valued at 2.28 billion pounds, equivalent to $298.8 million, based on an exchange rate of 7.6301 pounds per dollar. The company's listing was a major event in the Egyptian real estate sector.
In May 2023, the Egyptian Stock Exchange saw an additional listing of Telecom Egypt shares, valued at 3.94 billion pounds, equivalent to $127.6 million, based on an exchange rate of 30.8995 pounds per dollar. This listing further solidified Telecom Egypt's position as a major player on the exchange.
In December 2024, the United Bank witnessed a listing valued at 4.57 billion pounds, equivalent to $91.9 million, based on an exchange rate of 49.7392 pounds per dollar. This listing marked a significant development in the Egyptian banking sector.
The Egyptian Stock Exchange has also seen the launch of a new listing, with MNT-Halan's initial public offering (IPO) commencing on October [unspecified date]. The IPO is priced at 24.50 pounds per share, with a total value of 7.84 billion pounds, representing 20% of the company's shares.
The MNT-Halan IPO consists of two tranches: one for the general public, with 48 million shares representing 15% of the total shares offered and 3% of the company's total shares, and another for qualified investors, with 272 million shares representing 85% of the total shares offered and 17% of the company's shares. The private tranche is set to close on October 13, while the public tranche will close on October 15.
Key points
- The Egyptian Stock Exchange has witnessed significant listings, including Telecom Egypt's $779.1 million listing in 2005.
- E-Finance for Financial Investments and Digital Technology's listing was valued at $371.73 million in 2021.
- The Egyptian Stock Exchange continues to attract major companies, with MNT-Halan's 7.84 billion pound IPO commencing recently.
