Bourse: 49 companies with a list of shares allowed to trade them with 3 decimal points

Economy and stock exchange

The bourse announced the list of securities allowed to trade on three decimal points during the coming week, based on closing prices Thursday, and included 49 companies.

The Egyptian Financial Supervisory Authority [EFSA] has agreed to amend the bidding unit to be one in one thousand of the Egyptian pound or the foreign currency in which the securities are registered. For securities whose market value is less than LE 2 or any other currency, To be placed in a special list. The list is reviewed weekly to the maximum in the light of daily price changes, including those resulting from issuer decisions and affect the market price to list and exclude securities.

"The development of the auction system enhances the trading and liquidity of the market and avoids those stocks whose market value is less than 2 pounds or any other currency," said Mohamed Farid, head of the bourse, in a previous statement.

He added that the development of the auction system was in line with the best international standards and practices to allow greater flexibility in trading to encourage the availability of a higher price range for low-priced securities. The comparative study prepared by the Stock Exchange concluded that many emerging and advanced stock exchanges set the minimum bid unit According to the price level of the stock, including the stock exchanges of France, Austria, Malaysia, Singapore and Hong Kong, and this will enhance liquidity and circulation stimulate public and private IPO through the capital market.

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