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Sunday, 22 August 2021

Small caps have until the end of the month to get a nominated adviser

The EGX is giving all listed small caps until 31 August to appoint a nominated adviser, according to a press release (pdf) from the EGX today. Egypt’s SMEs listed on the Tamayoz index (formerly NileX) had until this Tuesday to hire an EGX-accredited nominated adviser under new regulations designed to improve their fundamentals and make them attractive to investors.

MARKET ROUNDUP-

The EGX30 fell 1.1% at today’s close on turnover of EGP 1.53 bn (9.5% above the 90-day average). Foreign investors were net sellers. The index is down 1.4% YTD.

In the green: CIRA (+4.0%), GB Auto (+1.0%) and MOPCO (+0.1%).

In the red: Fawry (-3.4%), Ibnsina Pharma (-3.0%) and AMOC (-2.5%).

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