Financial Regulatory Authority (FRA) approved the issuing program of BPE Holding for Financial Investments (BCAP) in preparation for the offering of the company’s shares in the Egyptian Exchange (EGX).

The Egyptian market capitalization of stocks has risen to $50 billion for the first time since the Central Bank of Egypt (CBE) devalued the Egyptian currency in November 2016, Bloomberg news agency reported on Thursday. 

As part of EGX continuous efforts in developing the Egyptian capital market system and its efforts to increase the activity and deepen the market and improve the trading rates in order to increase the attractiveness of regional and international investment to the Egyptian market and keep pace with the global developments in the field of capital markets. The Egyptian Financial Supervisory Authority approved the decision taken by EGX Board in its session held on 20/8/2017 to reduce the period of temporary suspension of trading on a security during the session as a result of the price change to 15 minutes instead of 30 minutes, EFSA also provided the flexibility for EGX management to increase or decrease this period between its minimum time which is 15 minutes and its maximum time which is 30 minutes according to market conditions.

In an important step towards their mutual goals to build capital flows and communication channels, The Egyptian Exchange (EGX) and Bombay Stock Exchange (BSE) today signed a Memorandum of Understanding (MOU) that includes mutual cooperation and the exchange of information across both Exchanges’ business areas.