Cairo – Mubasher: Five companies are expected to leave the Egyptian Exchange’s (EGX) benchmark index (EGX30) next month, while five others will be added, a new report by Pharos Research has said.
The research firm expects GB Auto, Abu Dhabi Islamic Bank – Egypt (ADIB), Amer Group, Egyptian Chemical Industries (KIMA), and Arabian Cement Company to leave the EGX30 in August.
As for additions, Pharos forecast that Egypt Kuwait Holding Company, Ibnsina Pharma, Sidi Kerir Petrochemicals, QNB Alahli Bank, and Edita Food Industries would be added to the index.
“Liquidity is the most important factor and is measured by the total value traded for the company during the 6-month period prior to the review date, after excluding special deals. In the tables below, companies are ranked according to their total turnover in the past 6-months,” Pharos explained in its note on the EGX’s bi-annual review of the constituents of its indices.
As for the small and medium-sized companies EGX70 index, the five companies that will be removed from the benchmark will be placed on the EGX70 along with 14 other additions.
EGX70 additions will entail: Amer Group Holding, CI Capital Holding, Dice Sport & Causal Wear, Arab Company for Asset Management, Faisal Islamic Bank of Egypt, Arab Ceramic Co (Ceramica Remas), Development and Engineering Consultants, Naeem Holding, Arab Moltaqa Investments Company, El Ezz Aldekhela Steel Alexandria, Ismailia Misr Poultry, Al Tawfeek Leasing Company, Misr Cement (Qena), and Northern Upper Egypt Development and Agricultural Production (NUDAP).
