Arab Finance: The Egyptian Exchange’s (EGX) market capitalization has surpassed EGP 4.3 trillion, while average daily trading value has approached a record EGP 10 billion, EGX Executive Chairman Omar Radwan said.

Radwan disclosed the figures during a meeting with the Egyptian Businessmen’s Association (EBA) that examined the exchange’s performance, recent regulatory and technical developments, and changes in Egypt’s broader economic landscape.

He attributed the market’s recent gains to rising investor confidence and a broader base of participants, adding that the trading figures reflected the EGX’s liquidity and its ability to attract domestic and foreign capital.

Turning to the government’s initial public offering (IPO) program, Radwan said the EGX was prepared to receive planned listings, including Banque du Caire and Misr Life Insurance. He added that bringing the two state-owned companies to the market would diversify investment options, broaden their ownership bases, increase trading activity, and lift the exchange’s market capitalization.

Radwan also reviewed recently approved tax incentives and measures aimed at supporting the capital market. These include replacing the capital gains tax with a simplified fixed-rate stamp duty and reducing the stamp duty imposed on non-resident investors.

The measures also provide a tax exemption for market-making activities and targeted incentives for companies seeking to list their shares, including an investment deduction intended to encourage further IPOs.

The meeting also examined the role of stock market listings in providing companies with long-term financing, supporting expansion plans, and strengthening corporate governance. Discussions covered investment mechanisms and financial products that have either been introduced or remain under development.

Among the products discussed were the planned financial derivatives market and changes to the short-selling mechanism, which are intended to support liquidity and deepen the market.

EBA Chairman Ali Eissa highlighted the association’s longstanding relationship with the EGX and its interest in expanding cooperation between the exchange and Egypt’s business community.

He said the EGX’s financing instruments could help companies raise capital, expand their operations, and attract domestic and foreign investment. Closer cooperation could also support transparency, corporate governance, market efficiency, and a more sustainable investment environment, he added.

The meeting concluded with a review of the EGX’s cooperation with international stock exchanges and the effects of global market trends and foreign investment flows on the Egyptian market.