🇪🇬 Egyptian Exchange

The Commercial International Bank (CIB), an Egyptian private sector lender has announced its working on acquiring a bank in Kenya. The bank’s board revealed this after they reported a 23% rise in net profits in the third quarter of 2019. 

The Listing Committee held on 30/10/2019 has approved the final de-listing for the shares of Suez Bags (EGX:SBAG), amounted to 10,935,000 shares, at a par value of EGP 2 per share (Voluntary de-listing), in the light of the purchase transactions for shares of the protested, aggrieved shareholders that carried out in 28/10/2019 according to Articles no. (55), of the Listing Rules, Article no. (74) of its Executive Regulations, concerning the voluntary de-listing.

This will reduce trading service fees to 0.005% from 0.00625%, clearing and settlement fees to 0.0100% from 0.0125% and stock market commissions to 0.0100% from 0.0120%.

The Egyptian Exchange (EGX) celebrated the completion of The Egyptian Mercantile Exchange (EMX) feasibility study with a ringing of Bell ceremony opening the trading session on Sunday. The event was attended by Dr. Ali El-Moselhy, Minister of Supply and Internal Trade, Mr. Ibrahim Ashmawy, Head of the Internal Trade Development Authority, Mr. Al-Qusayr, President of the Egyptian Agricultural Bank, and a number of officials representing stakeholders of the commodities market in Egypt.