Closing Prices Amendments, Exploratory Session to be held before Mar 23: EGX
Amwal Al Ghad has been informed through reliable sources that the EGX chairmanship is making up amendments on the shares’ closing prices as it is intended to count the last closing price instead of the average one. The EGX also is considering holding amendments on the mechanism of making exploratory session so as to control the high and low rates of the shares’ prices.
The sources have explained that these amendments would come into effect coincided with the EGX’s celebrations of the first anniversary for its trading resumption after the January 25th revolution. They added that the precautionary measures would be cancelled within 2 weeks from now.
The EGX has suspended trading for 38 sessions last year due to the outraging popular protests which resulted in Hosni Mubarak’s ouster. The EGX has resumed its trading on March 23, 2011.
The main precautionary measure taken by the EGX was halting the trading in case of the share’s rise or down to 5%.
