EGX sees strong growth in ’24

The Egyptian Exchange (EGX) experienced substantial growth in 2024, driven by increased trading, new listings, and innovative financial products.

Key Performance Indicators:

  • EGX30 Performance: The main index saw a 19.47 per cent increase, recovering from earlier losses.
  • Overall Returns: Returns on indices since the beginning of the year reached an impressive 48.77 per cent.
  • Market Capitalisation: Reached 2.17 trillion Egyptian Pounds at year-end, a substantial increase of approximately 450 billion Egyptian pounds compared to the start of the year.
  • Trading Value: Total trading value across all securities soared to 14.3 trillion Egyptian pounds.
  • Dividend Distributions: Reached 68.8 billion Egyptian pounds.

New Listings and Market Restructuring:

  • New Company Listings: 11 new companies, plus one resulting from a split, joined the exchange.
  • Listing Standards: Efforts were made to restructure markets by unifying listing standards.
  • Trading Mechanics: The exchange modified the bidding unit for share prices to boost liquidity.

New Financial Instruments and Market Initiatives:

  • Shariah Index: The EGX33 Sharia Index was launched, catering to Shariah-compliant investments.
  • Carbon Trading Market: A voluntary carbon trading market for carbon credits was launched, promoting sustainable finance.
  • First SPAC Listing: The EGX celebrated the listing of its first Special Purpose Acquisition Company (SPAC).

IPOs and SME Growth:

  • Initial Public Offerings (IPOs): Several companies raised substantial capital through IPOs.
  • Government IPO Programme: Included the offering of the United Bank, the first bank IPO in approximately 20 years.
  • SME Transition: Several small and medium-sized enterprises (SMEs) successfully transitioned from the EGX for SMEs (NILEX) to the main market.

Investor Participation:

  • New Investors: 228,500 new individual investors and 2,000 new institutional investors joined the market.
  • Trading Volume: The highest number of traders in a single session reached 50,411 on February 25, 2024.
  • Investor Relations: The exchange launched an investor relations record and trained 290 qualified investor relations officers.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser

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