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  • 06-10-21

    Capital gains tax proposal to not affect timetable set for resuming Egypt's IPO program

    (MENAFN)According to Minister of Business Sector Hisham Tawfik, the capital gains tax proposal is not going to affect the schedule set for resuming Egypt's IPO program that has been suspended numerous times awaiting development in market conditions.

    CNBC Arabia quoted him as saying that there are five companies planning to be floated on the Egyptian Stock Exchange in months.

    The capital gains tax proposal was submitted by acting parties in the Egyptian capital market at present, Tawfik further declared.

    He also added that the acting parties include the Egyptian Financial Association — a non-independent entity that contains major players in the market, including brokerage firms and investors.

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