Egyptian Stock Exchange Develops EGX 30 Index Methodology

SourceAsharq AL-awsat
SectorFinancial Markets
CountryEgypt

The Egyptian Stock Exchange (EGX) approved the development of the EGX30 index methodology for index formation and criteria for listing companies.

It also added a new standard for listing companies in the rest of the indices in the primary market so that the index conforms to the listing rules while maintaining its stability.

EGX issued a press release announcing that this step comes in light of the continuous development of indicators’ methodologies and their suitability to international best practices.

The statement said the new methodology is based on setting a maximum number of companies from the same sector, not to exceed five companies, contributing to diversifying the industries that make up the market indices to reflect the circulation and market performance comprehensively.

It also included setting a minimum limit for the company’s issued capital to be listed in the leading market indices.

It is required that the company’s issued capital to be fully paid, no less than EGP100 million or its equivalent in foreign...read more...