The EGX30 index saw three companies enter & three exit as part of its twice-a-year rebalancing review.
Three companies that exited the index were Alexandria Container & Cargo Handling (ALCN), Qatar National Bank (QNBA), & Housing & Development bank (HDBK). The three entrants were Abu Dhabi Islamic Bank – Egypt (ADIB), Edita Food Industries (EFID), & Taaleem Management Services (TALM).
EGX30 constituents are decided on a calculation of market value & the percentage of free-float shares, & periodic rebalancing is necessary to make sure constituents reflect the index’s calculation methodology.
The EGX rebalances twice a year; once on February 1st, the second on August 1st.