Egypt's stock exchange will soon move to next-day settlement of trades, the bourse chairman said on Sunday, a move that it hopes will increase activity and liquidity on the exchange.
The securities regulator "will issue a
Egypt's stock exchange said it would reduce the free float required for new companies to list on its benchmark EGX 30, as part of structural changes to the index.
Companies previously had to have a 15 percent free float to lis
The Egyptian Exchange suspended trading for half an hour on Monday after share prices soared following the country's presidential election result.
The benchmark index was up 6.7 percent when trading was paused automatically, in line with s
Egypt's stock exchange suspended trading in Orascom Construction Industries (OCI) shares on Tuesday and cancelled the day's trades in the stock after the company announced plans for an early bond repayment.
Orascom said in a statem
Etisalat Misr, the Egyptian arm of Abu Dhabi-based telecoms group Etisalat , has delayed a listing on Egypt's stock exchange until market conditions improve, daily newspaper al-Mal quoted the head of Etisalat Misr as saying.
Egypt's stock exchange suspended trade for half an hour on Wednesday shortly after reopening for trade following a seven-week closure due to political turmoil.
Acting exchange chairman Mohamed Abdel Salam told Al Arabiya televsion trad
The Egyptian stock exchange will announce in days, and probably in the coming week, a date for reopening, the state news agency quoted Prime Minister Essam Sharaf as saying on Saturday.
The exchange has been closed since January 30, early
Egypt must reopen its stock exchange by next Thursday to avoid the risk of exclusion from MSCI's emerging markets index, but any change to the closely followed benchmark would not be immediate, an executive from the index provider said.
Egypt's stock exchange, closed since January 28 after the onset of protests that toppled president Hosni Mubarak, faces the risk of being excluded from MSCI's emerging markets index when the index provider reviews its status in four weeks.
An Egyptian prosecutor is examining whether the head of the country's financial regulator along with the former chairman of the bourse broke the law, following complaints by investors, according to a statement.
A complaint was filed by