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The committee also recommended reducing the expenses of the Investor Protection Fund by 50% to 0.00005%, down from 0.0001%, and cut fees on trading on stocks listed on the EGX by 50%.
Omran said the IPF will provide insurance coverage of the actual financial loss of member clients in the companies operating in the field of securities and financial instruments against non-commercial risks
In a clear turn of events, the EGX decided to suspend trading on 71 shares for 10 minutes, but this time because of the proportion of their gains exceeded the 5% barrier, unlike last week, when trading was suspended due to losses.
Lower interest rates will encourage investment borrowing, says Abu Basha
First cargo shipping from Sokhna Port to Uganda leaves on Tuesday
CIB hikes by 5% and Eastern Company by 4.7%
MPC meeting will end the bleeding of the stock market, says HC
On Sunday, EGX indexes bled heavily amid intense selling by Egyptians leading to market losses of EGP 31.5bn
First time to suspend trading in the EGX 100 since 2016
The significance of the support level of 14,800 lies in the fact that it represents the previous two weeks’ low, and the neckline of a bearish short-term pattern. “Therefore, we will adopt a conservative viewpoint as long as the indices keep trading below the aforementioned level until the market proves the opposite,” Othman said.
The EGX30 index rose 1.2% during the last week’s trading to settle at 15,110 points, and while the EGX70 rose 0.6%, closing at 556 points.
Financial markets pioneered use of financial technology, are the basis of technological innovation
Decline in return on investment revives EGX investments in tandem with IPO activity
Experts forecasts further cut before end-2019, debt instruments remain attractive
Fayed statement came on the sidelines of the loan signing ceremony with real estate developer Inertia. He explained that the offering would be through a capital increase and the sale of a stake to a strategic investor, targeting around $300-400m.
The Minister of Public Enterprises Sector, Hisham Tawfek, said his ministry has 119 subsidiaries under the law No. 203, in addition to 107 other companies under the same law but affiliated to other ministries.
The offering included 36% stake, which represents 21% of its capital.
IPO to close tomorrow, trading begins on Thursday
Fawry’s IPO is likely to boost hopefulness in market, Eid holiday signals calm trading
EFG Hermes conducted EGP 8.2bn of transactions thanks to institutions deals
Bidding unit was market demand to increase turnover of small securities, says EGX chairperson
The EGX welcomes all new financial products that can attract new segments of investors as long as they are consistent with the EGX rules and procedures.
Most of this liquidity will come from Fawry IPO which is expected to energise the Egyptian Exchange (EGX), increasing the chances of profit through the expected rise in stock prices.
Company to implement insurance brokerage requests electronically in 4Q19, revenues expected to reach EGP 869.4m by year-end
Furthermore, according to the statement, shares offered in connection with the institutional offering and the Egyptian retail offering will be offered and sold at the same price (offer price).
Current share prices offer ideal opportunity for long-term investor, says Naeem Brokerage
21% for strategic investors, between 15-19% stake for IPO and private placement
EGX expected to continue fluctuating in coming sessions
FV of company’s shares being determined before approval, completion of offering procedures: Okasha
Mubasher aims to expand in Upper Egypt, says Sadek