Egyptian Exchange
EGX | |
Type | Stock exchange |
---|---|
Location | Cairo, Egypt |
Founded | 1883 Alexandria Stock Exchange 1903 Cairo Stock Exchange |
Key people | Rami El-Dokany (Chairman) |
Currency | Egyptian pound |
No. of listings | 176[1] |
Market cap | US$44.2 billion (E£688 billion)[1][2] |
Volume | E£121 million[1] |
Indices | EGX 30 EGX 50 EGX 70 EGX 100 |
Website | www |
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 Rami El-Dokany.
Transactions taking place in the stock exchange are not subject to capital gains tax. Dividends distributed by companies listed on the exchange to shareholders are also not subject to income tax. However, in 2013, a 0.001 percent tax on all stock market transactions was imposed.[3] In 2013, the Ministry of Finance announced that the government intended to repeal a 10 percent capital gains tax imposed on mergers and acquisitions the year earlier, as well as a planned tax on cash dividends, and refund investors who paid it.[4]
The Egyptian stock exchange plummeted 6.25% following the beginning of the Egyptian revolution of 2011 on 25 January.[5][6] It closed at the end of trading on 27 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.[7]
The Egyptian Exchange is a member of the Federation of Euro-Asian Stock Exchanges.
See also
References
- ^ a b c "Market Summary". Archived from the original on 16 December 2019. Retrieved 20 February 2020.
- ^ "Egyptian Exchange (EGX) Overview | TradingHours.com". www.tradinghours.com. Retrieved 20 February 2020.
- ^ "Tax imposed on EGX". Retrieved 13 December 2013.
- ^ "capital gain tax policy".
- ^ Egypt stock market tumbles over 6 pct on protests, Yahoo News.
- ^ Egyptian stock exchange falls 6.25% in 15 minutes, Jpost.
- ^ Egyptian Market's Reopening. Wall Street Journal. March 24, 2011.
External links
- Pages with non-numeric formatnum arguments
- Use dmy dates from January 2019
- Articles containing Egyptian Arabic-language text
- Articles with short description
- Short description is different from Wikidata
- Official website different in Wikidata and Wikipedia
- Financial services companies established in 1883
- Stock exchanges in the Middle East
- Stock exchanges in Africa
- Finance in Egypt
- Organisations based in Cairo
- Economy of Cairo
- Economy of Alexandria
- 1883 establishments in Egypt