Back to the complete issue
Sunday, 19 September 2021

EGX updates closing price mechanism

Updates to new share price closing mechanism on the EGX were implemented today: The EGX appears to have raised the ceiling over which a new closing price would need to be determined, in a new decision by the bourse issued today (pdf). Under the decision, the minimum “conditional value” — a benchmark that averages the total value of transactions on a share over three months — has been raised to EGP 300k from EGP 100k previously. Should a share’s Moving Volume Weighted Average Price (MVWAP) — used to determine the closing price of shares — exceed EGP 300k, a new closing price will need to be taken.


The EGX30 fell 1.0% at today’s close on turnover of EGP 1.2 bn (23.1% below the 90-day average). Foreign investors were net buyers. The index is up 0.4% YTD.

In the green: Abou Kir Fertilizers (+4.0%), Mopco (+3.5%) and AMOC (+1.7%).

In the red: Fawry (-7.3%), Egyptian Resorts Company (-5.8%) and MM Group (-4.9%).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.