The Egyptian Exchange (EGX) requested from all the listed companies to disclose their current operational and financial status and the extent of the existence of any undisclosed material events that explains the recent moves in stock prices. EGX also demanded them to quickly complete their financial positions until 31/12/2015 so as to reflect the real situation of those companies, in a way to help the investor to form a realistic vision about their performance away from the cases of unexplained panic sweeping markets at some times, which is not based on sound economic basis.

The Egyptian bourse is expected to witness the biggest number of IPOs in its history in 2016 if companies registered at the bourse offer their stakes in the stock market in line with the set rules, chairman of the Egyptian Exchange Mohamed Omran said.

The Egyptian Stock Exchange announced that it attracted some 18,000 new investors in 2015.

AXA announced today that it had completed the acquisition of 100% of Commercial International Life Insurance Company (“CIL”), a leading Egyptian Life insurance player, for a cash consideration of EGP 763 million (or Euro 92 million).