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FRA: Issuance of the first green bonds in Egypt, worth $100 million

Dr. Mohamed Omran, head of the Egyptian Financial Supervisory Authority, announced the signing of contracts for the issuance of the first green bonds in Egypt, tomorrow, Wednesday, at a value of $100 million, without revealing the name of the company and the details of the issuance. He expected to issue bonds worth between 6-8 billion pounds during the current year. After the approval of the Authority, and the issuance of the issuance papers to complete the offering papers soon.


Omran added, during a press conference held today, Tuesday, to announce an account statement for the performance of the Financial Supervisory Authority for the past four years (2017-2021) and its future vision, that in the context of offering new companies on the Egyptian Stock Exchange, it is expected that 3 new companies will be offered before The end of the year, pointing out that the Egyptian Stock Exchange is missing large-sized companies, after a large number of them were written off during the last period as a result of their acquisitions, based on Aramco's offering on the Saudi Stock Exchange, which contributed to improving its global ranking.


Dr. Muhammad Omran had announced a noticeable increase in the value of the issued securities in the primary market (issues of founding shares and capital increase shares) to reach more than half a trillion pounds, and taking into account that the issuance of nominal value adjustment and capital reduction issuances had reached their value. 714 billion pounds, and the issuance of securitization bonds during the period amounted to about 56 billion pounds, of which 25 billion pounds in 2020 only - the highest value of securitization in the history of the Egyptian capital market - which is an important indicator and indicates the activation of this mechanism and its use by companies as one of the sources of financing through The Egyptian capital market and stock exchange.


In the same context, “Omran” said that the main index of the stock exchange reached about 10854.3 points at the end of 2020, compared to the level of 15019 at the end of 2017, with a decrease of 28%, and the value of trading during the year 2020 amounted to approximately 689.6 billion pounds, compared to approximately From 333 billion pounds in 2017, while the market capitalization amounted to 649.9 billion pounds, compared to 685 billion pounds at the end of 2017.