Egyptian Exchange

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Egyptian Exchange
البورصة المصرية
EGX
Egyptian Exchange logo.svg
TypeStock exchange
LocationCairo, Egypt
Founded1883 Alexandria Stock Exchange
1903 Cairo Stock Exchange
Key peopleMohamed Farid (Chairman)
CurrencyEgyptian Pound
No. of listings202[1]
Market cap953 billion[1]
Volume144 million[1]
IndicesEGX 30
EGX 50
EGX 100
Websiteegx.com.eg

The Egyptian Exchange (EGX), Egypt's stock exchange, comprises two exchanges, Cairo and Alexandria, both governed by the same board of directors and sharing the same trading, clearing and settlement systems. Presently, the chairman of the Egyptian Exchange is Mohamed Farid.

Transactions taking place in the stock exchange is not subject to capital gain tax. Dividends distributed by companies listed on the exchange to shareholders are not subject to tax. However, in 2013, a 10% capital gain tax applicable on mergers and acquisitions was imposed on the exchange.[2] In 2013, Finance Ministry announced that the government intended to cancel a 10 percent capital gains tax imposed on mergers and acquisitions as well as a planned tax on cash dividends.[3]

The Egyptian stock exchange plummeted 6.25% following the beginning of the Egyptian Revolution of 2011 on 25 January.[4][5] It closed at the end of trading on the 27th January after the benchmark EGX 30 Index (EGX30) plunged 16 percent that week amid the uprising. The exchange reopened on Wednesday 23 March after being closed for almost 8 weeks. The market fell by a further 8.9% on reopening.[6]

See also[edit]

References[edit]

  1. ^ a b c "market cap".
  2. ^ "Tax imposed on EGX". Retrieved 13 December 2013.
  3. ^ "capital gain tax policy".
  4. ^ Egypt stock market tumbles over 6 pct on protests, Yahoo News.
  5. ^ Egyptian stock exchange falls 6.25% in 15 minutes, Jpost.
  6. ^ Egyptian Market's Reopening. Wall Street Journal. March 24, 2011.

External links[edit]