4 stocks likely to be excluded from EGX30 on new criteria

CAIRO – 19 July 2017: The Egyptian Exchange (EGX) reviewed the stocks listed on its main index EGX30, on semi-annual basis from February to August, to add new or remove existing constituents based on certain criteria, a Wednesday report from Pharos Holding said.

Pharos added that liquidity is the most important factor among these criteria and is measured by the total value traded for the company during the six-month period prior to the next review date, after excluding the value of the OPR deals.

The investment bank concluded after running that exercise that Credit Agricole, Juhayna Food Industries, Orascom Construction and Ghabbour Auto will be excluded, while Alexandria Mineral Oils, Abu Dhabi Islamic Bank, Egyptian Financial and Industrial Company (EFIC) and Egyptian Chemical Industries (Kima) will be added.

Pharos attached the below table for the top 30 firms ranked as per their total turnover in the past six months.