Minister of Petroleum and Mineral Resources Tarek El Molla held a meeting with Rami El-Dokany, Chairman of the Egyptian Stock Exchange (EGX), and the heads of the petroleum sector companies listed on the EGX to discuss the enhancement of trading for shares of sector companies listed on EGX.
The talks highlighted that oil, gas, and petrochemicals are at the forefront of the sectors that attract Arab and foreign investors. The meeting further highlighted that these firms enjoy strong performance indicators and high profitability, which qualified these companies to be the most traded Egyptian companies on the stock exchange in 2022.
During the meeting, El Molla pointed out the importance of cooperation with the EGX in exploiting all opportunities and efficiently employing the competitive advantages enjoyed by the listed petroleum sector companies, thus helping to increase their attractiveness to investors and enhance the value of shares.
The minister encouraged that cooperation should be strengthened with the stock exchange during the coming period to develop the performance of investor relations with companies.
During the meeting, El-Dokany praised the role of the petroleum and mineral resources sector in supporting and serving the national economy by meeting the needs of the local market for petroleum products, petrochemicals, and mineral resources.
El-Dokany highlighted the importance of clarifying the strategic plan for the officials of investor relations in the listed companies and working to increase the proportion of free-floating shares in some companies, which confirms the importance of developing the tasks and capabilities of the investor relations departments in these companies through several axes.