The number of international deposit certificates (GDRs) programs for Egyptian shares listed on the London Stock Exchange has reduced by 57% over the past nine years, to decline from 14 programs in 2016 to only 6 programs, to a series of decisions to write off by companies listed as a result of poor trading and high issues. Edita Food Industries recently announced the removal of its deposit certificate program, after being preceded by the Ezz Steel Company early this year, to remain 6 programs for international deposit certificates for the shares of the Commercial International Bank, the financial group Hermes Holding, Egypt and the Egyptian Telecom and Orascom Investment Holding, and Lesiko Egypt. The development of trade, Islam Azzam, the head of the Egyptian Stock Exchange, told Al -Sharq in a statement that the stock market is working on encouraging companies to offer their shares on the London Stock Exchange through international deposit certificates, and note that the stock exchange attaches great importance to the development of international deposit certificates. International Deposit Certificates (DDRs) are securities issued by international banks for shares for bound companies on the local stock exchange, and trade in global markets such as the London Stock Exchange. This mechanism enables Egyptian businesses to reach a broader basis of foreign investors, as well as investors to trade Egyptian shares abroad through these certificates instead of dealing with the local market. The reasons for the direction of the removal of AMR AL -ALFI, the head of stock strategies at the ‘Thunder Stock Trading Company’, attributed the companies’ approach to the removal of poor trading volumes abroad, along with the high cost of the release, which is a “holding of a Hani enterprise, which is the head of the research unit at Al -Ahly Pharosa is, considered. to attract investors, which have not been reached for most Egyptian enterprises during the recent period, with the exception of the commercial international bank, whose evidence still receives foreign investors. Plans to write off, while informed sources are revealed that the company is considering “City of Egypt” to take the continuation of the registration at the present time.
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