By: Shaima Youssef
The Egyptian Exchange (EGX) primary indicators experienced a collective drop on Wednesday amid a general state of tension throughout the market after EFG Hermes announced on Tuesday that its pending deal with Qatar-based investor QInvest was delayed by a lack of approval by the Egyptian Financial Supervisory Authority (EFSA).
Officials stated that this may jeopardise the deal’s implementation within its specified deadline, with Prime Minister Hesham Qandil saying that EFSA would settle the issue within the week.
The EGX’s main index the EGX 30 dropped 0.18% to 5,285 points.
Indicators for the EGX 70 for small and medium-sized companies dropped 0.07% to 450.34 points, while those for the EGX 100 dropped 0.13% to 752.52 points.