Cairo – Mubasher: The Egyptian Exchange (EGX) announced that it plans to carry out a number of structural changes to the methodology of its indices.

In an exceptional meeting held Wednesday, the EGX indices committee agreed on changes to the benchmark index EGX30, which will be effective as of the next periodic review of indices in August.

The committee also approved the launch of a new equal-weighted index for the top 50 stocks in terms of liquidity and activity.

The EGX will also reduce the free float required for new companies to list on its benchmark.

Companies previously had to have a 15% free float to list on the EGX30. Under the new rules, firms will be able to join with a minimum 5% free float as long as the market value of the float is at least EGP 100 million.