EGX completes semi-annual review, reveals 26 moves across main 4 indices
Cairo – January 30, 2025: The Egyptian Exchange (EGX) has announced the results of its semi-annual review of market indices, bringing in new companies into its benchmark index EGX 30.
Orascom Development, RAMEDA, EgyptAlum, Ibn Sina Pharma, Qalaa Holdings, and EIPICO have all been added to the index, according to a statement released by the stock market.
These six companies will replace six previous constituents: Ezz Steel, B Investments, Faisal Islamic Bank of Egypt, Cleopatra Hospitals, Elsewedy Electric, and Heliopolis Housing.
The changes, effective from February 1, 2025, aim to reflect the evolving dynamics of Egypt's economy and stock market, providing investors with updated benchmarks for trading.
Elsewedy Electric and Ezz Steel's exits were expected with most of Elsewedy's free float shares acquired by Abu Dhabi-based Electra Investment Holding in July, reducing its presence on the bourse, and Ezz Steel moving forward with its voluntary delisting, a decision made after shareholders agreed earlier this week.
In addition to the changes in the EGX30; EGX 70, EGX 100, and the newly launched shariah-compliant EGX 33 index also saw some reshuffling.
The EGX70 EWI (Equally Weighted Index) saw the addition of 6 new companies, while 6 others were removed, bringing the total number of changes to 17 across the EGX 30 and EGX 70 indices. The EGX 100 EWI experienced changes with the addition and removal of 14 companies.
The new additions to the EGX 33 include Delta Sugar, Lecico, Misr National Steel, Egyptian Resorts Company, Icon, Taqa Arabia, and Dice. These companies will replace Elsewedy Electric, Raya Holdings, AMOC, GB Corp, Abu Qir Fertilizers, Egyptian Financial & Industrial, and Gemma on the EGX 33.
The semi-annual review highlights the bourse's ongoing efforts to keep its indices aligned with the most active and liquid companies in the market.
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