Egypt: Bourse’ New Board Due to Discuss Market Revival Today

The new board of the Egyptian bourse will be convening its first meeting today to discuss the key plans to bolster the market within the upcoming period. The Egyptian Exchange (EGX)’s board will be reviewing the main aspects of the bourse future plans, seeking to boost and revive the market within the upcoming phase.

Investment Minister Osama Saleh alongside the financial regulator chief Sherif Samy will be in attendance at EGX board’s meeting.

The EGX will be also discussing the cancelation of the remained precautionary measures, notably the price limits on the listed shares as well as the reactivation of the pre-trading (Discovery) sessions. In addition, the EGX board is considering reducing the period of suspending the trading on stock after a 5 percent change (higher or lower) to become for 15 minutes only instead of less half an hour.

The board is also planning to increase the trading hours of the EGX of SMEs, which is known as NILEX to 2-4 hours instead of one hour only.

It is worth to mention that the EGX’s new board were elected by mid-June.