EGX eyes launching new index – Chairman

By: Ahmed Allam

Cairo – Mubasher: The Egyptian Exchange (EGX) is planning to launch a new index to reflect cash dividends of listed-companies, the bourse's chairman Mohamed Farid said on Thursday.

The fresh index aims to meet the demands of some investors and attract new investor segment interested in firms' cash distributions, Farid added on the sidelines of the Euromoney Conference.

The EGX needs to be restructured in a bid to introduce new sector-focused indices, he highlighted.

The EGX has only price indices and there is no index showing total returns, he noted, pointing out that not only securities depend on the movement of market prices, but on the returns on dividends, which traders need to see clearly as current indices do not show dividends.

The market sector indicators will be restructured in accordance to the international standards, Farid said.

He revealed that the Egyptian stock market is also looking to establish indices to clarify asset classes.

The chairman previously said that the EGX was planning to restructure the main indices of the market.

MUBASHER Contribution Time: 06-Sep-2018 11:07 (GMT)
MUBASHER Last Update Time: 06-Sep-2018 11:15 (GMT)