CAIRO - 30 January 2023: The Egyptian exchange (EGX) announced the semi-annual periodic review of its indices as 3 companies exited from the EGX30 index, the EGX30 Capped index, and the EGX30 TR index, in exchange for the entry of 3 other companies.
According to the stock exchange statement issued today, the three companies joining the EGX30 are (Abu Dhabi Islamic Bank - Egypt, Edita Food Industries, Taaleem Management Services) in exchange of the exit of Alexandria Containers and Goods, Housing and Development Bank, and Qatar National Bank Al Ahly.
The equally weighted index EGX 50 witnessed the exit of six companies in exchange for the entry of six other companies, while the small and mid-cap index EGX 70 witnessed the exit of 13 companies in which three companies of them joined the EGX30 index, in exchange for the entry of 13 other companies, while the broader index EGX 100 witnessed the exclusion of 11 companies, in exchange for the entry of 11 other companies.
The stock exchange management conducts two reviews every year of the stock indices, the first of which ends in January, and it starts working on it on the first of February (for the period from 1/7 to 31/12), and the second review ends at the end of July and is implemented in the beginning of August (for the period from 1/1 to 30/6).
The reviews monitor the change in the trading values of restricted shares, as well as the values of free float shares; according to the methodologies for each indicator, the review includes the exclusion of unqualified companies, and the inclusion of companies that meet the criteria.
During the review period, the treasury bonds index witnessed a number of changes, as 13 issues exited from the index, compared to 11 issues of treasury bonds, bringing the total number of bonds included in the index to 33 issues.
The EGX management reviews treasury bond indices monthly; This is according to the criteria for joining and excluding the indicators methodology.
Leave a Comment