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Egypt stock issuances decline 48% during 5M of 2020: FRA - Daily News Egypt

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Egypt stock issuances decline 48% during 5M of 2020: FRA

Insurance premiums fall by 11.4% to EGP 2.67bn in May


A report issued by Egypt’s Financial Regulatory Authority (FRA) showed that the total value of share issuances during the first five months of 2020 decreased 48% to EGP 32.1bn, compared to EGP 61.8bn in the same period of 2019.

The report added that the value of the incorporation shares during the same period of 2020 amounted to EGP 6.9bn, a decline of 34.7% on the EGP 10.5bn reported in 2019.

It added that the value of the capital increase shares during the first five months of this year decreased 50.7% to EGP 25.2bn. This compared to the EGP 51.2bn during the same period of the previous year.

A total of 1bn shares were issued between January and the end of May 2020, compared to 1.8bn during the corresponding period in 2019, reflecting a decline of 42%. The number of incorporation issuances decreased by 46% to 717m during the first five months of 2020, compared to 1.3bn shares during the corresponding period of 2019.

The number of capital increase issuances recorded at the end of May reached 377m shares, compared to 558m shares during the corresponding period of 2019, a decrease of 32.4%.

In a related context, the FRA report revealed that the insurance sector premiums during the month of May 2020 amounted to EGP 2.67bn, compared to EGP 3.01bn in May 2019, reflecting an 11.4% decline.

The report revealed that the total value of financial leasing contracts stood at about EGP 21.427bn in the January to May 2020 period. It compared this against the EGP 20.453bn recorded in the corresponding period of 2019, reflecting an increase of 4.8%.

Topics: Egypt FRA Stock

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https://dailyfeed.dailynewsegypt.com/2020/08/30/egypt-stock-issuances-decline-48-during-5m-of-2020-fra/
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