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Thursday, 16 September 2021

Trading on EKH shares converted to EGP from USD to begin on Sunday

Trading on EKH shares converted to EGP from USD to begin on Sunday: EK Holding shareholders who converted the trading currency of their shares to EGP from USD (while still being allowed to collect their dividends in USD) can begin trading on these converted shares on the EGX starting on Sunday, 19 September, the company said in a bourse filing (pdf) today.

By the numbers- 68.4% of all shareholders holding EGX-listed shares have opted to convert. Half of EKH’s shares trade on the EGX, with the other half being listed in Kuwait. Institutional investors in particular had a heavy appetite for conversion, we’re told.

MARKET ROUNDUP-

The EGX30 fell 1.4% at today’s close on turnover of EGP 1.94 bn (20.1% above the 90-day average). Foreign investors were net sellers. The index is up 1.4% YTD.

In the green: Speed Medical (+5.7%), Ezz Steel (+2.2%) and Raya Holding (+2.1%).

In the red: TMG Holding (-4.2%), AMOC (-4.1%) and Ibnsina Pharma (-3.7%).

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