Egypt Bourse’s New Board Mulls Price Limit Cancellation

Egypt’s bourse new board of directors will be convening its first meeting tomorrow 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.

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 less than half an hour.

The board is also planning to increase the trading hours of the EGX of SMEs, which is known as NILEX.

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