Exclusive: EGX-Listed Stocks’ Closing Prices New Regulations

The Egyptian Exchange (EGX) will be launching today (Thursday) the new mechanism to calculate the stock’s closing prices. This mechanism shall work on setting a certain value for each security traded in the EGX.

Under the new mechanism, the amount of stocks whose average determines the closing price must be equivalent to at least 0.5 per cent of the stock’s average daily turnover over three months.

Determinants of the Stock’s closing price value  = (Stock’s Total turnover over three months/the number of trading days of the stock) × 0.5%

The stocks must also be valued at over EGP 10,000 or its equivalent in foreign currency.

This new update also allows the presence of more than one type of execution orders, including invisible orders, which is considered among some tools that will be available successively after studying the market situation to measure the capacity available for those new tools, known that the system supplier will provide the technical support for this version and for all its related updates.

The data released by EGX showed that, out of 241 listed securities, 191 stocks will have their closing prices changed based on the minimum limit of EGP 10,000, including all NILEX stocks.

Additionally, 50 stocks will see change in closing prices at higher values, including Ezz Steel (ESRS.CA) (EGP 89646), Commercial International Bank Egypt – CIB (COMI.CA) (EGP 218133), Palm Hills Development (PHDC.CA) (EGP 130624), Oracsom Construction Industries – OCI (OCIC.CA) (EGP 202372), Talaat Moustafa Group – TMG (TMGH.CA) (EGP 126234), Orascom Telecom Media & Technology Holding (OTMT.CA) (EGP 253929), Citadel Capital (CCAP.CA) (EGP 96861) and Orascom Telecom Holding – OTH (ORTE.CA) (EGP 175348). EFG-Hermes Holding (HRHO.CA) came with the highest value of EGP 256360.