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The exchange allows 49 companies to trade their shares with 3 decimal places


The Egyptian Stock Exchange announced the list of securities that are allowed to be traded in three decimal places during the next week based on the closing prices of today, Thursday, and included 49 companies, after excluding the stock of Dice Readymade Garments from the list after the share price rose to 2.004 pounds.

 

The most prominent securities allowed to be traded on came in three decimal places next week: Citadel Capital for Financial Advisors, Egyptian Resorts, Palm Hills Development, Amer Holding Group, Porto Holding Group, Orascom Investment Holding, Egyptian Gulf Bank, Golden Pyramids Plaza.

 

The Financial Supervisory Authority had agreed to amend the auction unit to be one per thousand of the Egyptian pound, or of the foreign currency in which the securities are entered, for securities whose market value is less than the level of "2 Egyptian pounds or any other currency", To be placed in a special list, and the list is reviewed weekly, maximum, in light of the daily price changes, including what results from the issuer's decisions and affects the market price for listing and excluding securities.

 

In previous statements, EGX Chairman Mohamed Farid said that the development of the auction system enhances the trading and liquidity of the market and avoids those shares whose market value is less than the level of "2 pounds or any other currency" from being suspended due to price limits.

 

Farid added that the development of the bidding system came in line with the best international standards and practices to allow greater flexibility in trading by urging the availability of a greater price range for low-priced securities, as the comparative study prepared by the Stock Exchange in this regard concluded that many emerging and developed exchanges set the minimum. The unit of bidding according to the price level of the security, including the stock exchanges of France, Austria, Malaysia, Singapore and Hong Kong, and this would enhance liquidity and trading and stimulate public and private offerings through the capital market.

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