The EGX completed its semi-annual rebalancing of the EGX30 yesterday.
More Details🧐 The EGX30 saw the entry of four companies, E-Finance (EFIH), Orascom Construction (ORAS), Abu Dhabi Islamic Bank (ADIB), & Housing & Development Bank (HDBK).
Six companies exited the index, Raya Holding (RAYA), Speed Medical (SPMD), Pioneers Properties (PRDC), Aspire Capital (ASPI), Gadwa for Industrial Development (GDWA), & Egyptian for Tourism Resort (EGTS).
The uneven entry-to-exit ratio is a result of Pioneers Holding’s split into three companies, PRDC, GDWA, & ASPI, back in October 2021.
Why is this Important🤔 Rebalancing is important to maintain desired risk & diversification levels for the index, with the goal of attracting more investments.