Egypt Bourse to Test Price Discovery Session Tuesday

Big 5

Egyptian bourse will hold a trial session on Tuesday, August 5th to test the new criteria for the Price Discovery Session.

The Egyptian Exchange (EGX)’s management further revealed that the trial session will be held from 14:45 – 15:45 p.m.

In light of positive developments and stability in the market, the EGX, in coordination with the Egyptian Financial Supervisory Authority (EFSA), decided to lift precautionary measures put in place in 2011 following the January 25 uprising.

Accordingly, the price limits for stocks will be set at 10% during the session, while small and mid-cap stocks on NILEX will be allowed price limits at 5% upwards and downwards. In addition, the pre-opening session will be carried out in accordance with applicable rules and will be allowed the above stated price limits.