الهيئة العامة للرقابة المالية

Financial Regulatory Authority (FRA) has concluded the first training program designed to prepare state-owned firms targeted for listing on the Egyptian Exchange (EGX). The program was organized by the Financial Services Institute (FSI) and the Egyptian Institute of Directors (EIoD)— FRA’s training arms—as part of a pioneering national initiative to support the government’s Initial Public Offering (IPO) program through targeted training and qualification.

Dr. Islam Azzam, FRA Chairman stated that the readiness program reflects the integration of the authority’s roles in regulation, supervision, and awareness to build more efficient markets, particularly the capital market. He noted that the government IPO program will deepen, broaden and increase the market’s attractiveness by listing and offering a selection of the most prominent state-owned enterprises across various productive sectors, thereby expanding investment choices.

The closing ceremony was attended by Mr. Mohamed El-Sayad, FRA Vice Chairman ; Mr. Mohamed Sabry, EGX Vice Chairman ; and Dr. Tarek Seif, Executive Director of the FSI and the EIoD.

The program trained 118 representatives from 34 firms—including temporarily listed firms, upcoming target companies and the State-Owned Companies Unit.

The program focuses on practical requirements for companies and their leadership to transition from temporarily listing to final listing and subsequent offering, encompassing corporate governance, disclosure, transparency and ongoing listing obligations.

All participants—spanning executive, administrative, and specialized financial levels within the targeted enterprises—successfully passed the final examination administered at the conclusion of the program.

Mr. Mohamed El-Sayad emphasized that a company’s readiness for an IPO extends beyond merely meeting listing requirements. It also entails preparing management to fulfill continuous post-listing obligations toward the market and investors, particularly regarding timely disclosure, governance and the provision of material information.

He added that the success of the IPO program is measured not only by the number of companies entering the stock exchange, but also by their capacity to operate according to market rules and provide investors with the information required to make informed decisions. Consequently, FRA focuses on enhancing the quality of disclosure and governance prior to the offering which strengthens the efficiency of securities pricing and bolsters the capital market’s ability to provide corporate financing.

Dr. Tarek Seif noted that the program integrated practical training with theoretical content through workshops and case studies. These sessions addressed various stages a company undergoes from provisional listing to the IPO and its associated obligations. He highlighted that the curriculum practically addressed governance requirements, disclosure, the roles of boards of directors, executive and financial management, listing and offering mandates, and the ongoing obligations of listed companies—effectively bridging regulatory requirements with corporate implementation.

He concluded that the FSI and the EIoD will refine the training content in coordination with FRA, expand its scope to encompass targeted state-owned companies while focusing on the practical needs of the cadres responsible for corporate management and capital market compliance.