• EGX extends trading hours by one hour to align with UAE markets and attract early Arab investor activity.
• The exchange plans to convert into a joint-stock company, enabling capital raises for development without increasing fees.
• EGX partners with the 6th of October Investors Association to educate SMEs, encouraging listings and boosting market activity.

EGX

Executive Chairman of the Egyptian Exchange (EGX), Dr. Islam Abdel Azim Azzam, revealed that 54% of listed companies have approved extending the exchange’s trading hours by one hour. This moves the schedule from the current 10:00 a.m.–2:30 p.m. to 9:30 a.m.–3:00 p.m. 

In an interview with Asharq, Dr Azzam notes that the main goal of the extension is to align more closely with the opening times of the UAE exchanges during Egypt’s daylight saving period. Moreover, the move aims to attract investors, especially Arab investors, during the early hours of trading.

Joint Stock Company

The EGX Executive Chairman also mentions that there is an agreement between the Financial Regulatory Authority (FRA) and EGX to convert the exchange into a joint-stock company. He further explains that this move would allow the EGX to raise capital, especially when funding development projects, without having to increase fees.

Dr Azzam also discloses that the EGX signed an agreement with the 6th of October City Investors Association. The agreement entails sending teams to educate them on listing procedures and provide courses on investment fundamentals. He also notes that many small and medium-sized companies affiliated with the union have expressed interest in listing on the exchange. He further highlights that the inclusion of these companies would help boost market activity.

Dr. Azzam also confirms that the Egyptian Exchange is preparing to launch a new sustainability index next month, previously planned with S&P.