Cairo: The Egyptian Businessmen's Association (EBA), led by Ali Eissa, convened a comprehensive meeting with Egyptian Exchange (EGX) Chairman Omar Radwan to deliberate on economic developments, the performance of Egypt's stock market, recent regulatory advancements, and emerging financial instruments.

According to State Information Service Egypt, during the meeting, EGX Chairman Omar Radwan revealed that the market capitalization of EGX had exceeded EGP 4.3 trillion, with average daily trading volumes reaching approximately EGP 10 billion. These figures indicate strong liquidity and the market's attractiveness to both domestic and international investors.

Radwan indicated that EGX is prepared for significant forthcoming offerings, including those of Banque du Caire and Misr Life Insurance. He emphasized that these listings would expand investment opportunities, increase ownership diversity, enhance trading activities, and elevate the exchange's market value.

He also pointed out the recently approved tax incentives designed to bolster the capital market and stimulate trading. These include a shift to a simplified fixed stamp tax instead of the capital gains tax, a reduction in stamp tax for non-residents, an exemption for market-making activities, and incentives for companies listing their shares on EGX.

The meeting explored the advantages of listing companies on EGX, particularly in terms of securing long-term financing, supporting expansion plans, and enhancing corporate governance.

Attendees discussed investment strategies and the introduction of new financial products, such as the derivatives market and restructuring of short-selling mechanisms, to improve liquidity and market depth.

The EBA chairman highlighted the association's long-standing relationship with EGX and its dedication to strengthening collaboration between the business community and the stock exchange. He underscored EGX's role as a crucial platform for financing and economic growth.

He remarked that innovative financial instruments offered by the exchange could assist companies in expanding, raising capital, and attracting both domestic and foreign investments, while improved cooperation could enhance transparency, governance, and market efficiency, creating a sustainable investment environment.

The meeting concluded with a review of efforts to enhance cooperation with global exchanges and the influence of international market trends and foreign investment flows on EGX.