EGX changes minimum limit of share's closing price

Share's closing price stipulate that the number of traded shares should not be less than 0.5% of the stock's average daily turnover for the last three months

  
The Egyptian Exchange bell is seen at the stock exchange in Cairo, Egypt February 6, 2018. Image used for illustrative purpose.

The Egyptian Exchange bell is seen at the stock exchange in Cairo, Egypt February 6, 2018. Image used for illustrative purpose.

REUTERS/Amr Abdallah Dalsh

Cairo – Mubasher: The Egyptian Exchange (EGX) board of directors issued a decision regarding the minimum value of the share's closing prices, effective as of Sunday, 19 September.

The new rules of the share's closing price stipulate that the number of traded shares should not be less than 0.5% of the stock's average daily turnover for the last three months and the value of the traded shares should not be less than EGP 300,000, or the equivalent in foreign currency, for the main market and EGP 150,000 for the small- and mid-cap market, according to a statement on Sunday.

The closing prices is calculated as follows: the conditional value = (the share's total value traded in the last three months/the number of trading days) multiplied by 0.5%.

Source: Mubasher

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