The Egyptian Exchange Annual Report 2015

The Egyptian Exchange Annual Report 2015
Annual Report
(2015)
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Chairman’s Message
We’re saying goodbye to a year that featured a lot of

regional and international challenges hardly seen in any
other year. While emerging markets suffered from declines
in growth rates, devaluation of their currencies and fear of
terrorism, the Egyptian market was trying to regain its
performance while suffering from other regional
challenges as well, including falling oil prices and political
tension.
After celebrating a brilliant year for EGX in 2014, Egypt witnessed a lot of challenges
that EGX persistently tried to conquer and come out with the best possible performance
exhibited in the proceeds of its contribution to the economic and social development
plans and not only in the indices performance, which we cannot control. In this regard,
EGP 14 billion worth of capital increases were accomplished through EGX to help listed
companies expand and grow. In addition, capital of newly listed companies surged by
300% than that of 2014. Furthermore, the year also witnessed the comeback of huge
IPOs to record its highest number in 10 years.
On the development level, I have to say that we paid much attention to developing
legislative and regulatory infrastructure to help attract investment and promote
economy.
I’m very pleased to say that for the second time in a row the Doing Business Report,
done by World Bank, certified the effective Egyptian economy’s disclosure standards
which helped in maintaining Egypt’s overall rank in this report.
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Despite the tough challenges witnessed this year which was reflected on EGX indices
performances, EGX succeeded on other levels and I hope in this new year that we
conquer all the difficulties and challenges so that our beloved Egypt may prosper.
Last but not least, I would like to thank my fellow EGX colleagues, the Board of
Directors, market participants and Media figures for their sincere efforts and
contributions.
Sincerely yours,
Dr. Mohammed Omran
Chairman of the Egyptian Exchange (EGX)
Chairman of the Federation of Euro-Asian Exchanges (FEAS)
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2015 Important
Features
Despite the Decline in Indices For the Second Consecutive Year, EGX
Performance, EGX Is One of the Top Effectively Contributed to Improving
Performances over the Past 4 Years Egypt's Investment Climate
1
Percentage Change in (MSCI) Egypt vs.
Emerging Markets (in US$ Terms) (2012-2015) Egypt came
among the best
2
120%
100%
99% 6 countries
80%
60%
57%
improving
46%
40%
20%
32%
12%
investor
0%
1% 1%
protection in
‐20%
‐40%
‐6%
‐11%
‐22% ‐22%
‐25% 2014-2015
‐60% ‐45%
‐63% ‐67%
‐80%
LE 14 Billion to Support the Second Best Year for EGX since

Economy the 25th of January Revolution
50% higher than

what was
3 Trading Value & Volume (2010-2015)
Capital recorded in 2014 450 57 64
and more than

Billion Securities
33 45
Increases the total capital 300 34
48
LE Billion
29 290
Recorded increases 150

321
18
185
248 32
162 16
LE 14
148
recorded in 2014
4
0 0
Billion and 2010 2011 2012 2013 2014 2015
2013, collectively. Trading Value Trading Volume
IPOs Jumped to Reach its Highest Listing on EGX Records its Highest
Level in Ten Years Since the Global Crisis in 2008
The Egyptian
5 Total capital of newly
listed companies reach
LE 6 billion, which is 3
market rank first times higher than that
compared to LE 6.2 recorded in 2014, 30
times higher than 2013
regional
markets, in terms Billion levels and equivalent to
the what was achieved
Total capital
of IPOs activity. of newly
in the past five years
listed
6
(2010-
companies
2014), collectively.
reach LE 6
billion
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The Egyptian Exchange in 2015
International and Regional Economic and Political Challenges
The year 2015 witnessed significant regional and global challenges that had a negative
impact on the Egyptian economy and stock market. On the global level, the world
economic growth rate retreated led by China, to hit 6-year low, where the IMF decreased
its global economic growth rate forecast to 3.3% down from 3.5%, due to concerns about
China’s economic performance.
Despite Greece bailout deal, Eurozone is still looking for a firm recovery. Meanwhile,
leading emerging economies such as Russia, Brazil, Turkey and Mexico are struggling
through slower growth.
Moreover, currency war between China and USA fueled global economy turbulence,
whereby China devaluated the Yuan to promote exports, the Brazilian Real has retreated
by 26%, Turkish Lira dropped by 22% and the Mexican Peso slipped by 14%.
Furthermore, Economic challenges started to broaden to reach East Asia, whereby major
currencies hit low to reach their levels during the Asian financial crisis in 1997.
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International and Regional Economic Conditions
The Asian
The European currencies hit low to
Union (EU) is reach their levels
still suffering during the Asian
The US from the debt financial crisis in
Escalated
economy is not crisis 1997
political
strong enough situation in
the Middle
East China's economic
The longest indicators are
consecutive
lower than
weekly loss
in 29 years expected

Economies such as
Russia, Brazil, Numerous emerging
Turkey and Mexico markets (Mexico-Turkey-
are going through Brazil - South Africa)
recession devaluate their currencies.
Currency war
between China
and USA
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The global Economy Performance (2013‐2015)
%
10
9
8 7.16.96.7
7
6 5.14.6
5 3.7 4.24.64.2 4.4
4 2.7
3 2.4
1.8
2 0.90.4
1
0
Developed East Asia South America Sub‐Saharan Emerging
Countries Africa Countries
2013 2014 2015
On the regional level, the recurring tensions and the increased conflicts in several
countries had lackluster effect on the region’s growth rate. In addition, the drop in oil
prices which recorded less than $40 a barrel, one of its lowest levels since 2009, and
witnessing the longest consecutive weekly loss in 29 years, had its wide impact on the
region economic growth due to its strong dependence on the oil sector.
Despite the gloomy picture of the international and regional economic conditions in
addition to the coexisting tension in the region, the Egyptian economy managed to
maintain good growth rate recording 4.2% led by investing in infrastructure and mega
projects. Gradual improvement in economic growth rate is expected to continue given
further economic reforms and improvements of the investment climate.
Several Shocks … Market Maintains Second Best Performance Prior To

2011 Revolution
Financial markets were the most affected by the economic events in 2015. Losses
recorded more than $ 3.2 trillion in some days during this year and the emerging
markets were most affected by these events. Almost all emerging markets retreated in
2015 according to Morgan Stanley Price Index (MSCI), where Emerging Markets (EM)
recorded a decrease of 17%, Greece led the declines retreating by 62%, followed by
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Columbia which witnessed a decline of 44%, then came Brazil and Turkey with a decline
of 43% and 34%, respectively, while Turkey recorded a decrease of 34%.
Percentage Change in (MSCI) Egypt vs. Emerging Markets (in US$ Terms) in 2015

Hungary 33%
Russia -0.05%
India -7%
Philippines -8%
China -10%
Mexico -16%
United Arab Emirates -21%
Indonesia -21%
Malaysia -22%
Qatar -23%
Egypt -25%
Thailand -26%
South Africa -27%
Peru -32%
Turkey -34%
Brazil -43%
Colombia -44%
Greece -62%
-80% -60% -40% -20% 0% 20% 40% 60%
The global circumstances and the regional political tension and struggles affected the
Egyptian Exchange performance, after occupying the 1st and 2nd rank compared to
global markets, EGX retreated by 25%, according to Morgan Stanley Price Index
(MSCI). Despite the decline, EGX maintained best performance over the last three
years, according to MSCI.
2015: The Second Best Year for EGX since the 25th of January Revolution
Despite the decrease in EGX indices, the year 2015 is considered the second best year for
the Egyptian Exchange, following 2014, since the 25th of January revolution in 2011.
The main market value traded (after excluding deals and bonds) registered LE 117
billion, the highest record since 2010 – with the exception of the year 2014 where it
recorded LE 189 billion. Average daily traded value reached LE 500 million.
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From another perspective, market capitalization recorded LE 430 billion, surging by LE

110 billion since 30 June 2013.
EGX Significant Contribution to Economic Growth
Despite the economic and political challenges, EGX continued its efforts to support the
Egyptian economy through providing finance for companies, helping them to expand
and creating more jobs. More than 50 companies increased their capital by LE 14 billion
in 2015, 50% higher than what was recorded in 2014 and more than the total capital
increases recorded in 2014 and 2013, collectively. The surge in capital increases reflects
the positive outlook both investors and companies have regarding the economic future.
Listing on EGX Surged by 300% since 2014, 3000% since 2013 and
Equivalent to what was Achieved in the Past Five Years Collectively
EGX has continued its efforts to increase market depth through attracting new
companies to list. In that respect, 15 new companies were listed this year with a total
capital of more than LE 6 billion, which is the highest recorded since 2008; 3 times
higher than that recorded in 2014, 30 times higher than 2013 levels and equivalent to the
what was achieved in the past five years (2010-2014), collectively.
Moreover, the year 2015 witnessed the listing of the first government-owned company,
in addition to a dual listing of a real estate company from Gulf-area region and the
listing of a new EDR for a Kuwaiti company.
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IPOs Reach its Highest Level in Ten Years
IPOs market has witnessed a remarkable activity during the year 2015, reaching its
highest level in ten years, recording more than LE 6.2 billion during the year which led
the Egyptian market to rank first compared to regional markets, in terms of IPOs
activity.
From another perspective, EGX held the second Investment Summit, which focused on
giving the business community better insight about listing on the stock exchange and its
benefits including the growth of their businesses. During this Summit, the Government
announced its intention to restructure state-owned companies through the Stock
Exchange.
The Value of Acquisitions Deals Records 37 Times higher than that of

2014… The Highest Recorded Number of Deal Since 2009
The acquisitions activity witnessed a hike during 2015, recording more than LE 16
billion, which is 37 times higher than that recorded in 2014. Additionally, the number of
acquisition deals amounted to 11 deals in 2015, which is the highest recorded since 2009.
For the Second Consecutive Year, EGX Effectively Contributed to

Improving Egypt's Investment Climate
For the second consecutive year, EGX’s continuous Listing and Disclosure rules
amendments have contributed to improving Egypt's investment climate. According to
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“Doing Business Report”, issued by the World Bank and IFC, Egypt came among the
best 6 countries improving investor protection in 2014-2015, which came as a result of
the latest comprehensive amendments to the listing rules. Additionally, the report
referred to the amendment of treasury stocks rules, one of the most important reasons
for improving Egypt's ranking at minority investor protections indicator.
Furthermore, the report indicated that the disclosure standards have improved
dramatically, where Egypt scored 8 out of 10 points, which is higher than the average of
the Middle East region (which scored 5.8 points) and higher than the average of high-
income countries in the Organization for Economic Cooperation and Development
countries (OECD), which scored 6.4 points.
Worth mentioning that amendments in Listing and Disclosure rules have helped
improving Egypt's rank last year in spite of the decline of Egypt's ranking in some
indicators that were used in the assessment.
Continuous Efforts to Improve Disclosure Standards

The year 2015 has witnessed significant structural developments regarding the
disclosure standards and investors' protection, starting with the new Online Disclosure
System allowing blue-chip companies to send disclosure information via this electronic
system directly, minimizing the time taken to disclose the information effectively.
Furthermore, EGX decided to announce news published on all terminals on its website
at the same time to allow market participants to follow up with all news instantly.
On the other hand, EGX requested additional financial and operational information
from all listed companies, in order to provide investors with a clear and objective
overview about the companies.
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Deepening the Legislative & Regulatory Infrastructure
The year 2015 has witnessed many regulatory developments, which aimed at improving
the trading environment in the Egyptian Exchange, starting the year with the
amendments of 36 articles of the listing rules to ensure a wider application of corporate
governance and more investors' protection as well. In addition to fostering the
Exchange's ability to attract promising companies to be listed.
The new amendments ensured that founders, managers and Board of Directors of the
companies requested to be listed do not have previous court judgments issued against
any of them.
Additionally, the new rules facilitate the procedures of new offering for companies
seeking to comply with listing rules requirement. Moreover, the new rules regulate the
disclosure requirements of acquisition deals on assets that exceed more than 10% of the
company's shareholders equity.
Furthermore, the new amendments adopted new regulations addressing capital

increases resulting from mergers in addition to clear regulations for disclosing the ways
that capital increases will be used prior to listing.
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Continuous Development of EGX Trading Environment … Decreasing

Settlement Cycle to T+1
The year 2015 witnessed major improvements to the trading environment. The year
started with introducing ETFs and market maker for the first time in the Egyptian
market.
In an attempt to meet growing investors’ demands, settlement cycle has been decreased
to T+1. Moreover, EGX certified the first list of Arbitrators and Experts to settle Capital
Market disputes. Worth mentioning that settlement dispute rules was approved by EGX
BOD in 2014 to settle disputes without having to go to courts.
Restructuring the OTC Market ... Settling Deals in One Day

Aiming at improving investment climate for non-listed companies, EGX launched the
second phase of OTC restructure, enabling investors to place selling orders on unlisted
companies without the need to have the other side of the transaction. This will in turn
enhance joint venture activities in non-listed companies and will also help these
companies to obtain finance easily as partners will have a fast exit strategy.
Moreover, EGX managed to decrease the duration of settling deals on the OTC market
from 15 days to only one day.
Enhancing EGX Surveillance Capabilities

In order to enhance EGX Surveillance capabilities and to detect any manipulation,
several report and alerts have been activated on MillenniumIT Surveillance system.
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Additionally, surveillance staff has been given extensive training by MillenniumIT in

order to maximize the efficiency of the system.
Nilex Trading Volume Surge by 45% ... Several Agreements to Promote the
Market
Nilex maintained good liquidity level, whereby the trading figures surged by 45% over
the year, with a turnover ratio reaching 60%, which is a significant ratio compared to
the turnover ratio of the main market which recorded 27%.
The year witnessed several significant steps to promote Nilex, on top of them was the
signing of an MOU with The General Authority for Investment (GAFI) to promote the
role of Nilex as a platform for financing SMEs and to raise awareness, especially in
Upper Egypt, about the stock market. Additionally EGX signed an agreement with the
AUC to help improving SMEs capabilities and facilitate their access to finance.
From another perspective, EGX conducted several workshops in collaboration with

numerous business associations in Egypt, in addition to participating in several SMEs
conferences.
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Enhancing the Technological Infrastructure
Continuous developments to the technological infrastructure have been undertaken by

EGX. In order hedge against any risks that could hinder trading, EGX started a plan to
move its Data Center to Smart Village.
Moreover, several amendments have been undertaken by EGX to the OTC market
allowing brokerage firm to keep the unexecuted orders on the trading terminals for the
unlisted de-materialized shares, which will facilitate the procedures and save time and
effort.
On the other hand, EGX approved the amendments allowing brokerage firms the access
to an online daily report that includes all transactions executed by the company.
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Clearing Foreign Investors' Backlog Transactions
The Central Bank of Egypt (CBE) fully repaid all foreign investors’ outstanding dues,
amounting to more than LE 500 million, thereby settling all pending backlog trades
since 2012. The decision will help in restoring foreign investors’ confidence in the
Egyptian financial market as it facilitates market entry and exit and hence attracts more
foreign investments to EGX.
Continuous Efforts to Encourage Private Sector to Adopt Sustainable

Development Practices
In a step to spread sustainability practices among listed companies, EGX organized the
first annual sustainability conference, which aimed at adopting initiatives to integrate
local private sector in sustainability plans.
From another perspective, in a ceremony attended by UN Women program, UN Global

Compact and IFC, EGX rang the bell to celebrate the UN initiative for women
empowerment and gender equality, joining 34 stock exchanges around the world.
Additionally, the United Nations invited Dr. Mohamed Omran, EGX Chairman, to
speak about the Egyptian experience at the UN Third International Conference on
Financing for Development.
Furthermore, the Sustainable Stock Exchanges Initiative chose EGX as a reference

model for effective communication with market participants.
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EGX Launching the Seventh Index….and New EGX30 Index Methodology

Amendments
To meet the growing investors’ demands, EGX launched the seventh index, EGX 50
EWI. The index includes the top 50 companies in terms of liquidity and activity.
Additionally, the Indices Committee approved new amendments in EGX 30 index

methodology, whereby companies with a free float less than 15% are eligible to be
included in EGX 30 Index, provided that the market capitalization is more than or equal
LE 100 million.
International Community Praises EGX
On the international front, EGX is sparing no efforts to enhance its relations with other
stock markets and International organizations. In that Regard, EGX hosted the African
Stock Exchange Association Executive Committee meeting for the first time since 2012.
During the meeting, Dr. Omran was elected to head the Association Standards
Committee, which aims at setting a unified strategy for member countries.
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Furthermore, EGX hosted 13 European, Asian and African stock exchanges'

representatives in an extensive training program to study the Egyptian capital market
experience.
EGX to Launch a Stock Market Museum Soon
EGX is currently working on finalizing the first historical stock market museum, which
will highlight 135 years of EGX efforts to support the Egyptian economy. The museum is
expected to open for public by the first quarter of 2016 and will include precious
collections, which will reflect the historical development of the Egyptian Stock
Exchange.
Finally…
What EGX has achieved during the years 2014-2015 should be an incentive to make
more efforts in the next years to maintain the achievements done under the tough and
challenging regional & global circumstances.
Convening the Egyptian parliament is expected to improve investment climate and help
attract more investments to the local market.
On the other hand , improving the economic conditions will facilitate the offering
process to many companies listed on EGX but are still in the process of preparing for
their Initial Public Offering.
Moreover, the Egyptian Exchange is still fulfilling the strategy it’s started two years ago
for the period (2013-2017), including EGX contribution to economic & social
developments, improving the legislative, regulatory and technological infrastructure,
attracting more foreign investments to the Egyptian market and focusing on taking part
in regional and international alliances to protect emerging markets interests.
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1. Market Performance
A. Market Indices Performance
The Egyptian market recorded mixed performance during 2015 as a result of global and
regional events and their negative impact on the global stock markets and emerging
markets in particular, where the majority of emerging markets recorded considerable
losses during the year trading. EGX performance was affected significantly as the
market retreated after years of maintaining the first and second position versus
emerging markets, where EGX30 index recorded a decline of 21.5% during 2015.
Furthermore, EGX70 and EGX100 have decreased to reach 33% and 28%, respectively.
In addition, EGX20 capped and EGX50 EWL have recorded a decline of 29% and 33%,
respectively.
Moreover, Nile index has witnessed a decline of 22% during the year 2015.
It is worth mentioning that the year 2015 started with a solid performance, increasing by
almost 10%, but due to global circumstances, the political and military tensions in the
region and the decision to impose the capital gain tax, the market declined significantly
afterwards.
EGX Indices Performance during 2015
%22- index30 EGX
%22- Nilex index
%23- Dow Jones EGX Egypt Titans index 20
%28- index100 EGX
%28- $ index30 EGX
%29- Capped index20 EGX
%32- S&P/EGX ESG index
%33- index70 EGX
%33- EWI index50 EGX
%35- %30- %25- %20- %15- %10- %5- %0
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Market Indices | Indices Performance in 2015
Index Open High Low Close
EGX 30 Index (in Local Currency) 8,926.58 10,045.93 6,321.39 7,006.01
EGX 30 Index (in US$ Terms) 4,243.19 4,564.46 2,775.49 3,076.08
EGX 70 Index 565.43 602.03 344.48 378.69
EGX 100 Index 1,090.46 1,184.15 735.94 790.57
DJ EGX Egypt Titans 20 Index 1,893.67 2,115.92 1,314.77 1,461.36
S&P/EGX ESG Index 1,492.80 1,600.17 930.90 1,010.61
EGX 20 Capped Index 10,030.70 11,152.84 6,170.21 7,074.59
Nile Index 748.56 752.74 577.80 583.23
EGX 50 EWI Index 1,799.05 1,915.91 1,080.21 1,200.54
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EGX 30 Index Performance (January - December) 2015
10,000
22%
9,500
9,000
8,500
8,000
7,500
7,000
6,500
6,000
31/12/2014 31/1/2015 3/3/2015 3/4/2015 3/5/2015 3/6/2015 3/7/2015 3/8/2015 3/9/2015 3/10/2015 3/11/2015 3/12/2015

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EGX Milestones in 2015
January ‐ Organizing a training program for 13 Stock Exchanges' representatives to study
‐ Commencement of trading on the first ETF & applying the Market EGX experience.
Maker regulations. ‐ EGX approves the first group of arbitrators and experts to settle capital market
February disputes.
‐Amending the Listing Rules executive regulations. April
‐ The United Nations Sustainability Committee chooses EGX as a model ‐ The Stock Exchanges Sustainability Initiative launches models for effective
for Effective Communication with the Market Participants. communication with market participants.
‐ The Ministry of Petroleum and EGX agree to utilize the stock market ‐ EGX launches the electronic disclosure system.
‐ EGX hosts African Securities Exchanges Association (ASEA) executive committee
role as a gateway to finance and restructure petroleum companies.
meetings and ASEA selects Omran to be the Standards Committee head.
March
May
‐ EGX launches the second phase of shifting from a manual to an
‐ EGX launches its second Investment Summit to encourage IPOs and capital
electronic system in OTC market.
increases.
‐ For the first time in years, a government‐owned company applies to

list on EGX.
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June October
‐ Issuing an executive decision to amend the rules and regulations ‐ EGX launches its first Sustainability Conference with local and international
governing the issuance of Global Depository Receipts (GDRs). participation.
July ‐ The World Bank praises protecting minority investors at EGX and considers
‐ U.N. praises EGX efforts in supporting sustainable development Capital Market Policies to be the most important development in Egypt’s
efforts. business climate.
‐ Listing the first Egyptian Depository Receipts for a GCC company. November
August ‐ EGX holds a workshop with The Chamber of Information Technology and
‐ Signing a Memorandum of Understanding (MOU) between the Telecommunication (CIT) aiming at raising awareness about the funding
Egyptian Exchange and the General Authority for Investment to support opportunities that the Egyptian Market offers.
the small and medium enterprises in Upper Egypt.
December
‐ EGX moves its premises to Smart Village & establishes a museum
‐ EGX signs the United Nations' Initiative for climate change and forms EGX
before end of year.
Sustainability Advisory Committee.
September
‐ EGX organizes a training program for its employees about the amended
‐ Inviting Dr. Omran to demonstrate the Egyptian Exchange’s (EGX)
Egyptian Accounting Standards.
experience in promoting for companies in the regional IPO conference
organized by Bloomberg in Dubai.
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The Egyptian Exchange Annual Repo
B. Sector Indices Performance
All the traded sectors in the Egyptian The Chemical and the Basic Resources
market witnessed a significant decline sectors came next, declining by 28% and
37%, respectively.
during 2015. The lowest of which was
recorded by the Banking sector of around Following, came the Travel and Leisure
and the Financial Services excluding
2%, followed by Health Care and
Banks sectors both recording a decline of
Pharmaceutical sector which retreated by 39%.
10%.
Noteworthy, the Travel and Leisure
The third and fourth places were sector ranked fourth in terms of volume
captured by the Food and Beverage and traded registering around 2 billion
the Industrial Goods, Services & securities worth LE 4 billion.
Automobiles sectors, registering a decline
of around 17% and 21%, respectively. Whereas the Financial Services
Worth mentioning that the Industrial excluding Banks sector ranked first in
Goods, Services & Automobiles sector has terms of volume traded recording more
ranked the fifth place in terms of volume than 13 billion securities worth LE 26
traded recording 2 billion securities billion.
worth LE 5 billion.
Finally, the sorest declines for the year
Recording 23% decline YOY, the Real were recorded by the Construction and
Estate sector occupied the third place in Materials and the Telecommunications
terms of volume traded recording around sectors declining by 40 and 47%,
8 billion securities worth LE 28 billion; respectively. The Telecommunications
followed by the Personal & Household sector ranked second in terms of volume
Products sector which declined by 26%. traded registering 13 billion securities
worth LE 19 billion.
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Sector Indices Performance in 2015

Banks ‐2%
Healthcare and Pharmaceuticals ‐10%
Food and Beverage ‐17%
Industrial Goods and Services and Automobiles ‐21%
Real Estate ‐23%
Personal and Household Products ‐26%
Chemicals ‐28%
Basic Resources ‐37%
Travel & Leisure ‐39%
Financial Services excluding Banks ‐39%
Construction and Materials ‐40%
Telecommunications ‐47%
‐60% ‐45% ‐30% ‐15% 0%
Sector Indices | 5 Most Active Sectors in terms of Volume Traded

Trading Trading Average Average

Sector Volume (billion Value (LE P/E Ratio DY (%)
shares) billion) 31/12/2015 31/12/2015
Financial Services excluding Banks 13 26 45.59 12.43
Telecommunications 13 19 ‐ 3.12
Real Estate 8 28 26.44 3.26
Travel and Leisure 2 4 11.82 13.94

Industrial Goods and Services and
2 5 13.61 5.11
Automobiles
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2. Egypt vs. Emerging Markets

All emerging markets witnessed declines during 2015, except Hungary. Greece led the
declines retreating by 62%, followed by Columbia which witnessed a decline of 44%,
then came Brazil and Turkey with a decline of 43% and 34%, respectively, according
to Morgan Stanley Price Index (MSCI). The Egyptian Stock Exchange recorded an
average performance compared to other emerging markets, as shown in the following
figure.
Percentage Change in (MSCI) Egypt vs. Emerging Markets (in US$ Terms) in 2015
Hungary 33%
Russia -0.05%
India -7%
Philippines -8%
China -10%
Mexico -16%
United Arab Emirates -21%
Indonesia -21%
Malaysia -22%
Qatar -23%
Egypt -25%
Thailand -26%
South Africa -27%
Peru -32%
Turkey -34%
Brazil -43%
Colombia -44%
Greece -62%
-80% -60% -40% -20% 0% 20% 40% 60%
Source: Morgan Stanley Website
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Indices Performance | S&P Regional Indices Performance during 2015
Index Change (%)
S&P Pan Arab Composite Index ‐17%
S&P/IFCI EMEA Price Index in US dollar ‐21%
S&P/IFCI Asia Price Index in US dollar ‐9%
S&P/IFCI Europe Price Index in US dollar ‐16%

Source: Standard & Poor's Website
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3. Egypt vs. Arab Markets

The drop of the oil prices and the political circumstances led all Arab markets to a wave
of declines during 2015, as illustrated in the following figure.
Egypt vs. Arab Markets in 2015
Amman ‐0.2%
Abu Dhabi ‐5%
Casablanca ‐7%
Kuwait ‐14%
Bahrain ‐15%
Muscat ‐15%
Qatar ‐15%
Dubai ‐17%
Saudi Arabia ‐17%
Egypt ‐22%
‐25% ‐15% ‐5% 5%
Source: Reuters
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4. Market Aggregates
a. Market Totals
Despite the circumstances witnessed during 2015, the Egyptian market has maintained its
second-best performance after the revolution in 2011. Where the total value traded
reached LE 248 billion, compared to LE 291 billion in 2014, but still higher than that in
2013 by almost 53%.
Moreover, trading volume recorded more than 45 billion securities, compared to 57

billion securities in 2014. Likewise, the number of transactions recorded more than 4.9
million during this year versus 7.3 million transactions in 2014.
Moreover, the value traded of the main market amounted to over LE 226 billion in 2015
compared to LE 265 billion in 2014 (including both bonds and deals). Meanwhile, volume
traded of the main market reached 43 billion securities compared to 56 billion securities
in 2014.
On the other hand, the Over the Counter market (OTC) registered a trading value of LE
21 billion in 2015, as opposed to LE 25 billion in 2014. Additionally, the trading volume of
the OTC market reached 1.8 billion securities in 2015, compared to 1.3 billion securities
last year. Worth mentioning that the Egyptian Exchange launched the second phase of
enhancing the Over the Counter (OTC) market to help improve investment climate to
non-listed companies, where investors now can place their orders on a non-listed
company without providing the other party (buyer/seller). This is expected to help in
boosting partnership activities in this sector and will help in obtaining finance with no
difficulties when partners want a fast exit strategy.
From another perspective, Nilex (SMEs market) maintained good levels of trading
activity in 2015, where trading value reached LE 618 million versus LE 784 million in
2014. Moreover, volume traded reached 380 million securities compared to 263 million
securities in 2014, with an increase of 45%.
The market capitalization concluded the year at LE 430 billion as opposed to LE 500
billion at the end of 2014, but it remains higher than its level in June 2013 by about 110
billion, representing 22% of GDP.
| P a g e 28
Indicators 2010 2011 2012 2013 2014 2015
1. Trading Aggregates
Total Volume Traded (billion securities) 33 18.5 34 29 57 45
Main Market 28 16.9 33 27 56 43
Nilex^ 0.02 0.03 0.08 0.3 0.3 0.4
OTC Market 5 1.6 1.4 1.7 1.3 1.8
Total Value Traded (LE billion) 321 148 185 162 291 248
Main Market 273 130.5 166.5 146.1 265 226

Nilex^ 0.20 0.19 0.25 0.75 0.8 0.6
OTC Market 48 17.5 18.3 15.1 25 21
Total Number of Transactions (million) 10 5.6 6.2 4.8 7.3 4.9
Main Market 10 5.5 6.2 4.7 7.2 4.7

Nilex^ 0.005 0.01 0.03 0.1 0.11 0.09
OTC Market 0.4 0.06 0.04 0.02 0.06 0.03
Average Daily Value Traded (LE million) 1,300 716 755 666 1,192 1,014
Main Market 1,105 630.6 679 601 1,084 926

Nilex^ 1.4 0.9 1 3 3 3
OTC Market 194 84.5 75 62 104 86
Turnover Ratio** (%) 41* 32* 29* 21* 38* 27*
Number of Trading Days 247 207^^ 245 243 244 244
2. Listed Companies (Main Market)

Number of Listed Companies 212 213 213 212 214 221
Average Company Size (LE million) *** 2,302 1,378 1,763 2,013 2,337 1,945
Number of Traded Companies 211 204 204 206 206 217
Number of Traded Companies as a % of Number of Listed
99 96 96 97 96 97
Companies
Market Capitalization End of Year (LE billion) **** 488 294 376 427 500 430
Market Capitalization as a % of GDP 40 19 24 21 25 22
Non-Arab Foreign Participation as a % of Total Value
21 29 20 19 13 19
Traded^^^
Arab Participation as a % of Total Value Traded^^^ 8 7 8 8 8 8
3. Listed Companies (Nilex)

Number of Listed Companies 16 19 22 24 33 31
Number of Traded Companies 13 13 16 21 25 27
Market Capitalization End of Year (LE billion) **** 1 1.04 1.05 1.4 1.1 1
| P a g e 29
Main market includes stocks, bonds, mutual funds and deals unless otherwise specified.
* After excluding deals
** Turnover Ratio (%) = value traded of listed shares / market capitalization
*** Average Company Size = Market Capitalization / no. of listed companies
**** Market Capitalization = no. of listed shares x close price end of year
^ Trading on Nilex has been commenced effective 03/06/2010
^^ The Exchange was closed from 30/1/2011 till 22/3/2011.
^^^After excluding deals & bonds
Monthly Trading Value & Volume during 2015
42,000 7,900
32,500 6,100
Million Securities
LE Million
23,000 4,300
13,500 2,500
4,000 700
Aug-15
Sep-15
Nov-15
Dec-15
Apr-15
Oct-15
Feb-15
Mar-15
Jul-15
May-15
Jan-15
Jun-15
Trading Value Trading Volume
‐ A deal executed on Orascom Construction Industries (OCI) on 3 February 2015, with a total volume of 49
million securities worth LE 12.5 billion, was excluded from the trading figures of this month.
| P a g e 30
Trading Value & Volume (2010-2015)
450 57 64
33 45
48
300 34
LE Billion
29 290
248 32
18
150 321 185
148 162 16
0 0
2010 2011 2012 2013 2014 2015
Trading Value Trading Volume
Listed vs. Traded Companies (2010-2015)
400 98.2% 96.8% 120%

93.5% 93.6% 96.2% 93.5%
# of Companies
300
80%
200
244
231
252
247
232
227
236
40%
217
235
220
224
100
228
0 0%
2010 2011 2012 2013 2014 2015
of Listed Companies # of Traded Companies # Traded as a % of Listed Companies
| P a g e 31
b. EGX Indices' Constituents

Trading Trading Volume # of Trades
Value (Billion shares) (Million)
(LE Billion)
EGX 30 92 34 3
EGX 70 12 4 1
EGX 100 104 38 4
EGX Indices' Constituents as a % of the Trading Aggregates of the Total

Listed Stocks (Main Market)
Volume Traded Number of Trades

Value Traded
EGX
70
27%
EGX Rest
70 EGX EGX of
Rest EGX Comp
9% 30 70 30
of anies
81% 8% 60%
Comp 13%
EGX Rest
anies
30 of
24% Com
67%
panie
s
11%
| P a g e 32
c. Brokerage Firms Eligible for Online Trading
Value Traded (LE Volume Traded Number of Trades

Billion) (Billion) (Million)
22 21
60 57 3 3
Sell Buy
Sell Buy Sell Buy
d. Intra-day Trading System

Intra-day Trading recorded a trading volume of LE 5 billion shares in 2015,
representing 13% of the total volume traded of listed stocks. Moreover, their value
traded amounted to LE 12 billion, making up around 9% of the total value of the
listed stocks. Likewise, the number of transactions executed through intra-day
trading registered about 600 thousand transactions, which accounted for 13% of the
total number of transactions of the listed stocks.

Trading Aggregates for Intra‐day Trading System during 2015
Trading Volume Trading Value (LE # of Trades

(Billion Shares) Billion) (Million)
Total Trades Executed through Intra‐day
Trading System 5 12 0.6
% of Total Listed Stocks (Main Market) 13% 9% 13%
| P a g e 33
e. 10 Most Active Companies in Terms of Volume Traded (Listed

Stocks-Main Market)
Trading Volume Trading Value

(Billion Shares) (LE Billion)
Orascom Telecom Media and Technology Holding 10 9
Amer Group Holding (Amer Group) 7 6
Porto Group Holdings (Porto Group) 3 1
Citadel Capital - Common Shares 3 6
Palm Hills 2 6
Egyptian for Tourism Resorts 2 2
Global Telecom Holding 2 5
Arabia Investments, Development, Fin. Inv. Holding 1 2

Elsaeed Contracting & Real Estate Investment
1 1
Company SCCD
Arab Cotton Ginning 0.9 3
| P a g e 34
f. NILEX Companies Performance

Nilex market has established a good performance in 2015, with a trading volume of
almost 380 million securities with an increase of 45% than that last year. Moreover, value
traded reached LE 618 million while number of transactions reached 94 thousand
transactions.
Worth mentioning total market capitalization of NILEX listed companies have reached
LE one billion by the end of year 2015.

Moreover, Nilex has maintained high liquidity levels in comparison to the main market
where the turnover ratio of Nilex market has reached around 60% this year, which is a
significant ratio compared to the turnover ratio of the main market, which amounted to
27%.
Traded Companies in NILEX During 2015
Trading Market Cap.

Trading Close Price
Volume (LE Million)
Company Name Value (LE (LE) at the
(Million at the End of
Million) End of 2015
Shares) 2015
Al Fanar Contracting Construction 11 24 9 1.13

Trade Import and Export Co.
Vertika 0.05 0.2 4 3.54
Al Moasher for Programming and 15 9 4 0.41
Information Dissemination
UTOPIA 0.5 3 20 6.77
Pharaoh Tech for Control and 0.1 1.3 10.5 10.48
Communication Systems
Misr Intercontinental for Granite & 0.2 1 43 5.00
Marble (EGY-STON)
| P a g e 35
*Masria Cards 0.3 14 99 45.92

International Dry Ice Company- 3 5 16.5 2.35
Difco
Ferchem Misr Co. for Fertillizers & 0.2 1.5 103 6.89
Chemicals
Ameco Medical Industries 0.004 0.07 58 17.51
Egypt - South Africa for
46 50 20 0.62
Communication
Brothers Solidarity For Real Estate 2 3 7.4 1.86
Investment & Food Security
Arab Development & Real Estate 6 14 82 1.55
Investment
Integrated Engineering Group 38 64 22 1.44
Company
Genial tours 2.3 5.3 8 2.52
El-Barbary Investment Group 125 126 17 0.55
Univert Food Industries 56 65 74 0.92

Port Saied for Agricultural 2 3 5 1.14
Development And Construction
Al Oroba Trading Mining and 0.001 0.02 62.3 41.53
Supplying Company
Egyptian Modern Education Systems 12 110 69.3 7.79
Misr Kuwait Investment & Trading 2 3 19.2 0.96
Co
International Business Corporation 0.4 2 14.4 3.60
For Trading and Agencies - IBC
El Bader Plastic 9 8.5 5.3 0.69
International Company For medical 22 33 10 0.84
Industries - ICMI
First Investment Company And Real 4 10.2 14.5 2.89
Estate
Marseille Almasreia Alkhalegeya For 23 59.3 153 2.55
Holding Investment
International Company for 1.2 4.1 35.5 2.37
Fertilizers and Chemicals
* The company was voluntary de-listed effective 25/11/2015
| P a g e 36
5. PE Ratio and Dividend Yield

The Egyptian Exchange has realized a price earnings (P/E) ratio for the main market of
13.6 times at the end of 2015 compared to 17.1 times at the beginning of the year.
Meanwhile, the dividend yield recorded 7.7% at the end of 2015 compared to 9.7% at the
beginning of the year. The figures below portray the monthly PE and DY over the year
2015.
Price Earnings (PE) Ratio in 2015
24
20
16
12
17.1 17.1 17.3 18.1 19.5 19.1 19.4
8 14.3 14.7 14.4 13.2 13.6
4
0
Septamber
October
November
December
April
May
August
June
March
July
January
Fabruary
Dividend Yield (DY) in 2015
%
12
10
8
6
9.7 10.3
4 7.0 7.5 7.7
6.2 6.4 6.6 6.5 6.9 6.8 7.0
2
0
January
November
December
Fabruary
July
Septamber
October
March
May
August
June
April
| P a g e 37
6. Development of Number of Investors in 2015

Due to the intensive promotional efforts exerted by the exchange, together with the
restored investors' confidence in the Egyptian market, EGX was able to attract new
investors in 2015, registering more than 18 thousand new investors. On the institutional
level, the number of newly coded institutions has increased by 43% to reach more than
1,700 institutions in 2015, 47% of which are foreign institutions.
Newly Coded Investors | 2015 vs. 2014
Number of Newly Coded Investors in 2015 vs. 2014
Individuals Institutions Total

2014 2015 2014 2015 2014 2015
Egyptians 19,331 14,811 290 408 19,621 15,219
Arabs 495 649 76 84 571 733
Non-Arab 665 847 815 1,199 1,480 2,046
Foreigners
Total 20,491 16,307 1,181 1,691 21,672 17,998

| P a g e 38
7. Investors’ Trading Activity in the Egyptian Market
A- Individuals vs. Institutions

The Egyptian market was dominated by individuals, accounting for 61% of the value
traded during 2015. Meanwhile, the institutions captured around 39% of the value
traded, after excluding deals and bonds.
The institutions ended the year 2015 as net sellers, recording net outflows of LE 517
million versus LE 3 billion net inflows during 2014, after excluding deals and bonds.
Individuals vs. Institutions in Terms of Value

Traded in 2015*
Institutions
39%
Individuals
61%

* After Excluding Deals & Bonds
B- Egyptians vs. Foreigners

Foreigners accounted for about 28% of the total value traded in 2015, of which more
than 19% was captured by non-Arab foreign investors, while the remaining 8% was
captured by Arab investors, after excluding deals and bonds. Worth mentioning that
| P a g e 39
non-Arab investors recorded a net buy of about LE 104 million however the Arabs were
net sellers by LE 212 million.
Egyptians vs. Foreigners in Terms of Value

Traded in 2015*
Arabs
8.2%
Non-Arab
Foreigners
Egyptians 19.4%
72.4%

Non Arab Foreigners'

Egyptians' Trading in Arabs' Trading in
Trading in 2015*
2015* 2015*
Institu
tions
48%
Institu
tions Institu
Indivi Indivi tions
duals 23%
duals 98%
77% 52% Indivi
duals
2%

As for the foreign participation by region, Europe has dominated foreign investments on
EGX in 2015, capturing around 39% of the total foreign investments, after excluding
deals and bonds. Arab investments accounted for 30% of the foreign investments, while
19% were owed to USA & Canada.
| P a g e 40
At the country level, the USA & the United Kingdom have represented 18% and 17%,
respectively, of the total foreign investments on EGX in 2015, followed by Saudi Arabia
constituting around 14% the total foreign investments, after excluding deals and bonds.
Foreign Participation by Foreign Participation by Country in 2015*

Region in 2015*
Emirates
Others 6% UK
US
12% 17%
Cana
Europe a Others
39% 19% 45%
Arab Saudi Arabia

30% USA 14%
18%

*After Excluding Deals & Bonds
| P a g e 41
8. Listed Companies/New Issues in 2015
a. New Listings & Capital Increases

Year 2015 witnessed a remarkable increase in the listing activity, where 15 new
companies were listed, with a total value of LE 6.1 billion compared to 13 new listed
companies in 2014, with a total value of LE 1.9 billion.
From another perspective, capital increases maintained remarkable growth in 2015,
whereby 50 companies raised their capital during the year, with a total value of LE 13.9
billion, the highest rate since 2011, and higher than what has been recorded in 2014 by
over 50%.
Listings| During 2014 and 2015
2014 2015
No. of Total Value No. of Total Value

Companies (LE Million) Companies (LE Million)
New Listing 13 1,917 15* 6,116
Capital Increase 45 9,287 50 13,921
De‐Listing 1 27 5** 662
*The EDRs of Alsalam Holding Company was listed but not enrolled yet, the listing of DPK Pharma Company was considered
as if it never took place.
**Does not include the companies whose listings were considered as if it never took place.
| P a g e 42
b. Initial Public Offerings (IPOs)

The year 2015 witnessed a remarkable boost in the activity of IPOs, whereby four huge
IPOs were executed during 2015, with a total value of LE 6.2 billion, the highest value in
10 years, which granted the market the first rank among the region, in terms of IPO
activities during the year.
Initial Public Offerings (IPOs) during 2015
Company Name Offering Date Issue Size Issue Size (LE

(Million Shares) Million )
Emaar Misr for Development July - 2015 600 2,280
Edita Food Industries S.A.E Mar- 2015 108.8 2,013
Orascom Construction Limited Mar- 2015 12.98 1,411
Orascom Hotels And Development Jun - 2015 33.3 506
Total 6,210
IPOs & Capital Increases

17.1
20
15.1
13.9
16
9.3
12
LE Billion
6.2
6.2
5.0
8
4.8
4.2
2.2
1.2
4
0.9
0.0
0.0
0.0
0.0
0
2008 2009 2010 2011 2012 2013 2014 2015
Capital increase IPO
| P a g e 43
9. Acquisition Deals during 2015

The number of acquisition deals amounted to 11 deals worth LE 16 billion in 2015, as
opposed to 5 deals worth LE 435 million in 2014.
These deals included the sale of 23% of Orascom Construction Industries (OCI) to OCI
Mena B V in a deal worth LE 12.5 billion, in addition to the sale of 5% of Egyptian
Company for Mobile Services (MobiNil) by MT Telecom in a deal worth LE 1.4 billion.
From another perspective, the deals concluded through the Block Trading Mechanism
amounted to LE 538.3 million this year.
Acquisition Deals in 2015
Acquirer Security Date % Value (LE

Million)
Orascom Construction
1 OCI Mena B V Feb-15 23 12,480.91
Industries (OCI)
Egyptian Company for Mobile
2 MT Telecom Mar-15 5 1,403.50
Services (MobiNil)
Egyptian company of food -
3 Kellogg’s COMPANY Jan-15 11 888.03
Bicsomisr
Orascom Telecom Media And
4 Belton Financial Holding Nov-15 85 551.58
Technology Holding
The Arab Dairy Products Co.
5 Pioneers Holding Mar-15 60 255.71
ARAB DAIRY
| P a g e 44
10. Market Capitalization

The market capitalization recorded LE 430 billion during the year 2015. Although it
witnessed a decrease compared to the last year, the market capitalization maintained its
level compared to the years before 2014, increasing by more than LE 110 billion
compared to June 2013.
Additionally, the market capitalization represented 22% of the GDP, as depicted in the
table and the figures below.
a. Market Capitalization
Change
(LE Billion) 31/12/2015 31/12/2014
(%)
Total Market Cap. (Main Market) 430 500 -14%
Total Market Cap. (Nilex) 1.0 1.1 -5%
Total Market Cap. (Main Market) as a % of

22% 25%
GDP
GDP used is LE 1997.6 billion for the year 2013/2014 (preliminary figure) according to the Ministry of
Economic Development.
| P a g e 45
Market Capitalization for EGX Indices' Constituents

(End of 2015)
250
200
LE Billion
150
227
100 199
50
28
0
EGX 30 EGX 70 EGX 100
b. Market Capitalization by Sector
Personal and Household

Others 8%
Products 4%
Travel & Leisure 4% Banks 20%
Chemicals 5%
Industrial Goods and
Services and
Automobiles 6%
Construction and
Food and Beverage 6% Materials 19%
Telecommunications 8%
Financial Services
excluding Banks 9% Real Estate 12%
| P a g e 46
11. Bonds
The bond market witnessed its best performance in history during the year 2015,
recording a trading value of about LE 89 billion compared to LE 67 billion during last
year. Likewise, the volume traded of bonds recorded 86 million bonds versus 65 million
bonds in 2014.
Treasury bonds issued through the Primary Dealers System still account for the lion’s
share of the total bond's trading activity.
Trading Aggregates for Bonds in 2015
Traded Value Traded Volume

(LE Million) (Thousand)
Government Bonds 88,796.9 86,334.9

Government Bonds (According to
88,796.8 86,176.6
Primary Dealers System)
Housing Bonds 0.124 158.3
Corporate Bonds 0.0 0.0

Total 88,796.9 86,334.9
| P a g e 47
12. Global Depository Receipts (GDRs)

Following the performance of 2014, the Egyptian GDRs showed a mixed performance in
2015. The highest gains were realized by Edita Food Industries S.A.E (29%), followed by
Suez Cement (11%). However, Commercial International Bank GDRs, Orascom Telecom
Media & Technology Holding, Palm Hills Development, Telecom Egypt, Egyptian
Financial Group Hermes Holding and Global Telecom Holding witnessed a decrease of
19%, 21%, 33%, 36%, 48% and 54% respectively.
Some of the Egyptian GDRs Performance in 2015
GDR Closing GDR Closing

Conversion Change
Price (US$) on Price (US$) on
Ratio* (%)
31/12/2014 31/12/2015
Edita Food Industries S.A.E 0.2 14.3** 18.5 29.37%
Suez Cement 1 4.51 5 10.86%
Commercial International Bank 1 5.28 4.3 ‐18.56%
Orascom Telecom Media & 0.2 0.87 0.69 ‐20.69%

Technology Holding
Palm Hills Development 0.2 1.50 1 ‐33.33%
Telecom Egypt 0.2 7.01 4.49 ‐35.95%

Egyptian Financial Group Hermes
0.5 3.49 1.8 ‐48.43%
Holding
Global Telecom Holding 0.2 2.85 1.3 ‐54.39%
*Represents the number of GDRs per share.

** Represents the closing price of 02/04/2015, date of debut of trading.
- Closing Prices are adjusted according to corporate actions.
Source: Reuters
| P a g e 48
The Bank of New York Mellon Egypt GDRs Index
The figure below shows the performance of Bank of New York Mellon Egypt GDRs index
in 2015. This index was issued by The Bank of New York Mellon on the 3rd of October
2008, recording a decrease of 10.2% during 2015.
Source: The Bank of New York Mellon website
| P a g e 49
13. Performance of EGX 30 Index Structured

Products
Performance of EGX 30 Index Certificates

All EGX 30 index certificates have witnessed decrease in their performances in 2015, as
highlighted below.
1- EGX 30 Certificates Issued by Royal Bank of Scotland (Previously

known as ABN-AMRO)
All issuances (traded on SWX, Frankfurt Stock Exchange, Euronext Amsterdam)

witnessed weak performances during 2015, with a decrease varying between 20% to
32%. It’s worth mentioning that the forth issuance, listed and traded on Euronext Paris
was recalled in May 2015. While the fifth issuance, listed and traded on Milan Stock
Exchange matured in August 2015.
2- Global Van Eck: Egypt Index ETF
On the 16th of February 2010, Global Van Eck launched the first ETF to track the
Egyptian market movement and is traded in NYSE under the name "Market Vectors
Egypt Index ETF (EGPT)". The ETFs recorded a decrease of 35% during the year.
3- EGX30 Certificates Issued by Deutsche Bank
The performance of the 1 million EGX 30 Index open end certificates issued by Deutsche
Bank AG, namely “EUR X-Pert Certificates” that were listed and traded on Frankfurt
and Stuttgart Stock Exchanges starting 13 March 2006 also record a decrease of 21% this
year.
| P a g e 50

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The Egyptian Exchange Annual Report 2015

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The Egyptian Exchange Annual Report 2015

We’re saying goodbye to a year that featured a lot of

Dr. Mohammed Omran

Chairman of the Egyptian Exchange (EGX)

Chairman of the Federation of Euro-Asian Exchanges (FEAS)

LE 14 Billion to Support the Second Best Year for EGX since

50% higher than

Capital recorded in 2014 450 57 64

and more than

Recorded increases 150

2013, collectively. Trading Value Trading Volume

| P a g e 3 COMPANY NAME

The Egyptian Exchange in 2015

International and Regional Economic and Political Challenges

Several Shocks … Market Maintains Second Best Performance Prior To

-80% -60% -40% -20% 0% 20% 40% 60%

From another perspective, market capitalization recorded LE 430 billion, surging by LE

EGX Significant Contribution to Economic Growth

IPOs Reach its Highest Level in Ten Years

The Value of Acquisitions Deals Records 37 Times higher than that of

For the Second Consecutive Year, EGX Effectively Contributed to

Continuous Efforts to Improve Disclosure Standards

Deepening the Legislative & Regulatory Infrastructure

Furthermore, the new amendments adopted new regulations addressing capital

Continuous Development of EGX Trading Environment … Decreasing

Restructuring the OTC Market ... Settling Deals in One Day

Enhancing EGX Surveillance Capabilities

Additionally, surveillance staff has been given extensive training by MillenniumIT in

From another perspective, EGX conducted several workshops in collaboration with

Enhancing the Technological Infrastructure

Continuous developments to the technological infrastructure have been undertaken by

Clearing Foreign Investors' Backlog Transactions

Continuous Efforts to Encourage Private Sector to Adopt Sustainable

From another perspective, in a ceremony attended by UN Women program, UN Global

Furthermore, the Sustainable Stock Exchanges Initiative chose EGX as a reference

EGX Launching the Seventh Index….and New EGX30 Index Methodology

Additionally, the Indices Committee approved new amendments in EGX 30 index

International Community Praises EGX

Furthermore, EGX hosted 13 European, Asian and African stock exchanges'

EGX to Launch a Stock Market Museum Soon

%22- index30 EGX

%28- index100 EGX

%28- $ index30 EGX

%29- Capped index20 EGX

%33- index70 EGX

%33- EWI index50 EGX

%35- %30- %25- %20- %15- %10- %5- %0

Market Indices | Indices Performance in 2015

Index Open High Low Close

EGX 30 Index (in Local Currency) 8,926.58 10,045.93 6,321.39 7,006.01

EGX 30 Index (in US$ Terms) 4,243.19 4,564.46 2,775.49 3,076.08

EGX 70 Index 565.43 602.03 344.48 378.69

EGX 100 Index 1,090.46 1,184.15 735.94 790.57

DJ EGX Egypt Titans 20 Index 1,893.67 2,115.92 1,314.77 1,461.36

S&P/EGX ESG Index 1,492.80 1,600.17 930.90 1,010.61

EGX 20 Capped Index 10,030.70 11,152.84 6,170.21 7,074.59

Nile Index 748.56 752.74 577.80 583.23

EGX 50 EWI Index 1,799.05 1,915.91 1,080.21 1,200.54

EGX 30 Index Performance (January - December) 2015

EGX Milestones in 2015

B. Sector Indices Performance

Sector Indices Performance in 2015