EGX approves determinants of calculating closing price, price limits for temporary suspension
The Egyptian Exchange issued Resolution No. (681) for the year 2021 regarding the determinants of calculating the closing price and price limits for the temporary suspension after Mohamed Farid, its Chairman approval.
The first article of the decision stipulates that the price limits shall be 20 percent of the last closing price for the main market with the application of the temporary suspension at 10 percent, and the rate of 10 percent for the small and medium-sized companies market from the last closing price with the application of the temporary suspension at 5 percent.
The second article stipulates calculating the moving average of the intraday closing price of the restricted securities on the basis of calculating the moving average price weighted by the quantities executed during the last 30 minutes that witnessed executions with a minimum of LE 100,000 or its equivalent in foreign currencies.
The third article stipulated the creation of an auction session to calculate the daily closing price of the listed securities before 2:30, and it is divided into 3 periods: the closing price auction period, the adjustment period, and the trading period at the closing price.
