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The stock exchange: 82 companies with a list of shares that are allowed to be traded with three decimal places


The Egyptian Stock Exchange announced the list of securities allowed to be traded with three decimal marks during the next week, based on Thursday’s closing prices, and it included 82 companies. Amer Holding, Orascom Financial Holding, Orascom Investment Holding, Naeem Holding for Investments, Iron and Steel for Mines and Quarries, Palm Hills Development.

The Financial Supervisory Authority had agreed to amend the bidding unit to be one per thousand of the Egyptian pound, or of the foreign currency in which the security is registered, for securities whose market value is less than the level of “2 Egyptian pounds or any other currency.” Provided that it is placed in a special list, and the list is reviewed at most weekly, in light of daily price changes, including what results from the issuing authority’s decisions and affects the market price for the inclusion and exclusion of securities.

Mohamed Farid, the former head of the stock exchange, said, in previous statements, that the development of the bidding system enhances the trading and liquidity of the market and avoids those shares whose market value is less than the level of “2 pounds or from any other currency” due to the price limits.

Farid added that the development of the bidding system came in line with the best international standards and practices to allow greater flexibility in trading in terms of providing a greater price range for low-priced securities. The bidding unit according to the price level of the security, including the stock exchanges of France, Austria, Malaysia, Singapore and Hong Kong, and this would enhance liquidity and trading, stimulate public and private subscriptions through the capital market.

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