Farid: The launch of a new index that includes Tamayouz companies this coming February
Dr. Mohamed Farid, Chairman of the Egyptian Stock Exchange, reviewed the most important steps for developing the market for small and medium enterprises during the year 2020, as it recently formed a committee to conduct an evaluation of the sponsors, in addition to holding 17 meetings to ensure their readiness, to be announced soon.
He stressed that the Stock Exchange has completed the development of a new index that includes a list of Tamayouz companies, which is expected to be launched next February, provided that it will be relied upon as an indicator to measure market development.
He pointed out, to the stock exchange’s decision to divide the small enterprises market into two markets, the first “Tamayouz”, which includes the best companies in terms of financial and operational performance, and the Nile market includes the rest of the companies.
In a conference held by the Stock Exchange, Farid added that Zoom Technology has canceled 10 companies of sponsors who do not abide by the rules of sponsors’ work, and added 3 new ones, in addition to the agreement with the European Bank for Reconstruction and Development to bear up to 70% of the cost of restructuring the listed companies.
He pointed out that the Stock Exchange agreed to contribute part of the research coverage costs, as well as its role in following up the sponsors’ work and upgrading the level of issues related to developing investor relations.
The article, the Chairman of the Egyptian Exchange, reviews the steps to develop the market for “small and medium enterprises”. It was written in Al-Borsa newspaper.