Rana Mamdouh _ The Operations Committee of the Egyptian Exchange (EGX) decided to commence trading on the shares of MNT Tech Holding for financial investments, known as MNT-Halan, starting from the trading session on Tuesday, October 20.
The Egyptian Exchange (EGX) stated in its release issued today that the decisions of the Operations Committee included that the opening price (reference price) of the share shall be the public and private offering price of EGP 24.5 per share.
Listing the Shares of the Issuing Company in the Medium-Activity Market Including Securities
It pointed out that the decisions included listing the shares of the issuing company in the medium-activity market, which includes securities that allow dealers in this market to practice intraday trading mechanisms, trading on securities on the day following the purchase, trading on margin, and accepting them as collateral up to 80% of their market value.
It noted that the price limits for the share upwards and downwards on the first trading session shall be double the price limits in the market where the share is listed (40%), without applying temporary trading halt mechanisms until the end of the trading session in which a new closing price is recorded. Starting from the subsequent trading session, the price limits for the share shall be applied in accordance with those applicable in the listed market.
Regarding the mechanism for stabilizing the share price for the public offering in the market following the offering, the Open Price Request (OPR) market will be opened for thirty calendar days starting from October 20 until November 18, during which the offering manager is committed to registering an open buy order at the offering price. Shareholders wishing to sell from buyers in the public offering only have the right to register sell orders up to a maximum number of shares allocated to the seller wishing to sell through the public offering.
It is stipulated that the shares offered for sale must be purchased through the public offering on its execution date on the exchange, which have been retained or remaining from it. Brokerage firms are prohibited from registering sell orders except after verifying this in accordance with the client's balance statement and account movement statement from Misr Central Clearing, Depository and Registry (MCDR), as sell orders for shares purchased from the open market will not be allowed to be accepted.
The Central Depository and Registry Company shall match the orders registered in the private deals market with the conditions set forth in this clause and notify the exchange of violating orders, provided that the exchange cancels the violating orders or allows, at the time it determines, the violating brokerage firms to cancel such orders.
At the end of the calculation period, all registered sell orders that are valid for execution and comply with the conditions set forth in this clause will be executed. Noting that in case of non-compliance with the foregoing, the exchange shall take whatever measures it deems appropriate against the violators.
