Press releases 2009
London Stock Exchange hosts second Egypt Capital Markets Day
- Egyptian miner Centamin Egypt moves from AIM to the Main Market
For the second year in a row the London Stock Exchange is today hosting an Egypt Capital Markets Day at its offices in Paternoster Square, London.
The two day event is held in association with EFG-Hermes and supported by the Egyptian Exchange. Over 170 meetings are scheduled to take place between international investors and senior representatives of the 13 Egyptian companies participating in the event.
Dr. Mahmoud Mohieldin, Egypt’s Minister of Investment, will deliver the keynote address and will open the Exchange’s markets on Friday 23 October 2009.
The event takes place shortly before Egyptian Gold miner Centamin Egypt, the largest company by market capitalisation on AIM, moves to the Main Market. Centamin is set to become the eighth company this year to transfer from AIM to the Main Market, having grown from a market capitalisation of £21.5 million at admission in 2001 to over £1 billion today.
Speaking ahead of the event, Tracey Pierce, Head of Equity Capital Markets at London Stock Exchange Group, said
“London continues to be the market of choice for Egyptian companies who are looking to access an unrivalled pool of global investment capital and who want to use the liquidity and international profile of a London listing to expand their businesses globally.
“Situated at the heart of the world’s most international financial centre, the London Stock Exchange is uniquely placed to facilitate investor meetings with some of Egypt’s leading companies.”
Six of the firms attending the event are quoted on the London Stock Exchange’s markets.
o Orascom Construction Industries
o Orascom Development Holding
o Ezz Steel
o Telecom Egypt
o Commercial International Bank
There are currently 10 Egyptian companies on the London Stock Exchange’s markets with a combined market cap of £1.7billion. Egyptian flotations have raised over £800 million and trading in the secondary market also remains strong, with over 86,000 trades in Egyptian securities on the Exchange’s International Order Book so far this year, a 17 per cent increase on the same period last year.
For further information and photos of the event, please contact:
Lauren Crawley-Moore Press Office +44 (0)20 7797 1222
Notes to editors:
The thirteen Egyptian companies attending the event are:
Commercial International Bank
El Sewedy Cables
Orascom Construction Industries
Orascom Development Holding
Sixth of October for Development and Investment Company (SODIC)
About the London Stock Exchange’s Capital Markets Days:
The London Stock Exchange’s Capital Markets Days facilitate face-to-face, scheduled dialogue between companies and institutional investors.
Capital Markets Days:
- bring together select groups of companies and relevant institutional investors for meetings grouped around sectors, topics or geographical regions
- are an effective way for companies to seek new investors, broaden their shareholder base and communicate their investment story
- take place in the Exchange’s Media & Business Complex.
About London Stock Exchange Group:
London Stock Exchange Group is Europe's leading diversified exchange business, incorporating Borsa Italiana and London Stock Exchange. With over 500 member firms and more than 3,000 companies quoted across its markets, the Group operates the largest and most liquid equity marketplace in Europe.
The Group offers trading in a wide range of instruments, holding the number one position in trading exchange traded products (ETFs and ETCs) and through its interest in MTS, is the leading platform for the trading of fixed income products. Through MOT it offers a comprehensive range of European corporate and government bond trading services. Its Italian Derivatives Exchange Market (IDEM) sees over €2.5 billion worth of trading every day, and through EDX London the Group provides a facility for the trading of Scandinavian and Russian equity derivatives.
London Stock Exchange Group also offers post-trade services such as netting, clearing and settlement on an efficient and competitive basis. These include services from Monte Titoli, the Central Securities Depository for all Italian financial instruments, and Cassa di Compensazione & Garanzia (CC&G), which in July 2009 was granted Recognised Overseas Clearing House (ROCH) status by the FSA to operate in the UK.
London Stock Exchange itself is the world's most international exchange with over 600 overseas companies from more than 70 countries quoted on its markets. These figures include international companies on AIM, the London Stock Exchange's growth market, which has grown to become the world's most successful market for small and medium sized enterprises with 1,385 companies at the end of July 2009.