Egyptian Exchange
The bank expects to issue the shares on the EGX by Q4 2024, contingent on prevailing market conditions and the finalization of approval procedures.
Mohamed Farid, Chairman of the FRA, emphasized that the new regulated market represents a milestone in Egypt’s environmental and financial sectors
The transaction value is estimated at around $449.1 million, with Electra paying $1.05 per share.
Consisting of 33 companies from various sectors, the newly-launched EGX33 index adheres to a methodology approved by the shariah supervisory committee
The amendments aim to diversify investment tools, enhance competitiveness, and make the Egyptian market more attractive to investors, according to Farid
These investments will aim to optimize operations in logistics, communications, microfinance, and consumer finance
The top gains of the session were by Mena Touristic & Real Estate Investment which climbed by 19.93 percent, Raya Holding for Financial Investments by 19.8 percent, and Egyptian Gulf Marseilia for Real Estate Investment by 19.19 percent
Closing the first week of stock market trading with a mixed performance and a market cap. loss of LE 6.1 billion, the Egyptian Exchange (EGX) saw its benchmark index inch into the red by 0.23 percent
Stock market traders rang in the first session of the new year with a strong performance, closing on a significant high and adding LE 33.4 billion to the market cap
Additionally, the EGX is studying a potential T+0 system that would enable settling trades on the very day they are executed, meaning that traders will be able to buy and sell stocks within the same session
The newly launched Resolution No. (223) of 2023 modifies Resolution No. (58) of 2018, which pertains to the regulations for licensing banks and specific non-banking financial companies to engage in investment fund activities
Upon the successful closure of this acquisition, Raya Holding's ownership in Ostool will increase to 90 percent, as disclosed by the company on the Egyptian Exchange (EGX)
The acquisition, which will see B Investments purchase up to 90% of OFH, was announced back in June
ACUD will announce partnership opportunities soon with the private sector to implement projects together in the Administrative Capital
The benchmark index slowed into the red by 0.15 percent to end the session at 23,059.15 points
Monday trading saw 892.96 million shares exchanged with a turnover of LE 4.63 billion
Sunday trading saw 532.69 million shares exchanged with a turnover of LE 2.55 billion
Trading on securities recorded Egyptian investors as net sellers with LE 440.82 million. Arab and foreign investors were net buyers with LE 213.28 million and LE 227.53 million, respectively
The sale involved 3.5 million shares valued at LE 44.66 million valued at almost $1.45 million.
The EGX statement explained that procedures for setting up the database and registering investor relations officers will begin once they pass interviews, tests, and training programs conducted by the bourse
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