The Clap ُThe EGX announced a block trading deal of EGP 45 million to buy 50 million of Amer Group’s (AMER) shares.
Claps Class Block trades are bulk-sized trades.
Why this matters
Block trades are privately negotiated outside the open market to avoid slippage of the stock’s price if the deal is entered as a single market order. To avoid this, the trade is divided into several chunks carried out by intermediary brokers.