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EGX loses EGP 22bn Tuesday morning, closes with EGP 15.5bn losses

The Egyptian Exchange (EGX) plunged on Tuesday morning, losing around EGP 22bn in market capital, recording EGP 906bn in total. The losses were driven by random selling from foreign and Arab companies, as well as investment funds. However, the EGX closed after falling into the red zone, losing about EGP 15.5bn, and recording EGP 912.127bn. …

Daily News Egypt

4% of Eastern Tobacco to be offered on EGX: Badawi

State-owned Holding Company for Chemical Industries will offer 4% of its stake in Eastern Company on the Egyptian Exchange (EGX), Minister of Public Sector Affairs Khaled Badawi said in a statement on Monday. Badawi added that the offering is part of the government’s (initial public offering) IPO programme, aiming to increase state-owned companies’ base of …

Daily News Egypt

Egyptian reform programme irreversible, process will continue: EGX chairperson

Mohamed Farid, chairperson of the Egyptian Exchange (EGX) and the Federation of Euro-Asian Stock Exchanges (FEAS), said that Egypt’s economic reform programme put the country in a position allowing it to create its success story, adding, “tremendous improvements were made.” Farid noted, at CFA Institute’s Middle East Investment Conference on Monday, that the Egyptian reform programme is …

Hagar Omran

CI Capital intends to list 43.6% of its capital on EGX

CI Capital announced on a press statement on Thursday that it plans to list a 43.6% stake of its capital, which is equivalent to 246.9m shares on the Egyptian Exchange (EGX) through an initial public offering (IPO) in the second quarter (Q2)of 2018. Furthermore, the offering will consist of a secondary sale of shares by …

Daily News Egypt

CIT Chamber plans to qualify companies to trade on EGX

The Chamber of Information Technology and Communications (CIT) is currently cooperating with the Nile Stock Exchange to qualify Egyptian companies to trade on the Egyptian Exchange, said Tamer Mohamed, general manager of the chamber, which is part of the Federation of Egyptian Industries. He pointed out, during the “Watan Rakamy” (Digital Homeland) conference, which was …

Daily News Egypt

NIB sends Finance Ministry 13 companies to float on EGX: El-Saeed

Hala Al-Saeed, minister of planning and chairperson of the National Investment Bank (NIB), said that several days ago, the bank sent the Ministry of Finance a programme of proposals for the Egyptian Exchange (EGX) of 13 companies belonging to different economic sectors. Finance Minister Amr El-Garhy said in previous statements that the ministry aims to …

Ahmed Farahat