El Rashad Asset and Portfolio Management is conducting negotiations with BCS on listing the latter in the Egyptian Exchange for the SMEs – NILEX within this year. El Rashad official source said the Egyptian asset management firm has held meetings with BCS board. “El Rashad seeks to activate and enhance NILEX's Nominated Advisors responsibilities." In the meanwhile, BCS Managing Director Mahmoud El Nagar told Amwal Al Ghad that the company is currently conducting a feasible study on how to get listed in NILEX within this year. “BCS' capital amounts to EGP 900 thousand; It works in the field of information technology." El Nagar added El Nagar also noted that BCS is included in the Information Technology Industry Development Agency (ITIDA)'s data base which would be a further encouraging factor so as to get listed in NILEX. “ ITIDA will afford 80% of listing procedures costs while the companies willing to be listed will afford the rest." Worth mentioning, ITIDA and the Egyptian Exchange (EGX) have signed a Memorandum of Understanding (MOU) on May 13th as a mean of cooperation to support the IT industry companies, especially those interested to be listed in SMEs market (NILEX). As pursuant to the agreement, ITIDA shall act as the program facilitator; supporting ICT companies through the Nominated Advisors at the stock exchange who will qualify these firms for being listed.
