29 June 2012

Egyptian Exchange Extends Companies' Exemption Period

The Egyptian Exchange has decided to extend the exemption period of companies desiring to list and offer their shares in the Egyptian Exchange or the Nile Stock Exchange for small and medium-sized projects (Nilex) from registration fees until the end of this year. This step aims to encourage companies to list their shares in the Egyptian Exchange.

Chairman of the Egyptian Exchange, Dr. Mohamed Omran said the decision comes within the framework of the bourse's keenness to activate the market by encouraging companies to list their shares during the free-fees period.

On the level of the bourse's performance, trading in the Egyptian Exchange (EGX) maintained its upward spiral on Thursday 28/06/2012 for the fifth day running with gains amounting to EGP 4.6 billion, shrugging off fears over calls for a million-man march on Friday.

The main benchmark EGX 30 index was up by 1.73 percent reaching 4708.59 points.

The broader EGX 70 index of the leading smaller and mid cap enterprises (SME) was up by 0.99 percent to 422.03 points.

The all-embracing EGX 100 index rose by 1.8 percent to 729.54 points.

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