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Telecom Egypt’s Ordinary Shares (EGX)

All investors must open accounts with custodians, which are mainly banks and few member firms, in order that EGX can check on line their outstanding balances prior to any sale transactions”, (Egyptian Exchange).

Telecom Egypt Ordinary Shares are traded in the Egyptian Exchange (EGX), which is an organized market, governed by specific rules and regulations; where one can buy and sell stocks and bonds. Buying and selling is not allowed directly by investors but through their agents (Brokers); where commissions are charged for their services. The regulatory body is the Egyptian Financial Supervisory Authority (EFSA).

The Cycle of any Transaction:

 The client (investor) who wants to buy or sell a stock or a bondwill contact or consult the brokerage firm.  The client (investor) will fill in the order, specify the price, quantity and type of security that will be purchased or sold.

The brokerage firm will execute the investor’s (client) instructions, and the order will be processed through the Egyptian Exchange.  Misr for Clearing, Settlement, and Central Depository (MCSD) handles the clearing and settlement of shares and bonds.  Brokerage firm receives the ownership transcript or the shares themselves.  Finally the Brokerage firm gives the client’s bookkeeper the physical shares or the ownership transcript.

The Egyptian Exchange is one of the oldest stock markets established in the Middle East. The Egyptian Exchange traces its origins to 1883 when the Alexandria Stock Exchange was established, followed by the Cairo Stock Exchange in 1903.

Telecom Egypt’s GDRs:

 

Established in 2007 from the merger of Mellon Financial Corporation and The Bank of New York Company, Inc., BNY Mellon is a leading asset management and securities services company, uniquely focused to help clients manage and move their financial assets and succeed in the rapidly changing global marketplace. Headquartered in New York, BNY Mellon has $21.8 trillion in assets under custody or administration and $1 trillion under management.

BNY Mellon helps organizations build assets, enhance performance, improve operating efficiency and reduce risk through a wide range of asset management and securities services solutions.

Telecom Egypt’s GDRs are traded on the London Stock Exchange, with the code TEEG, and can be purchased through an authorized stockbroker of your choice.

The Broker buys ordinary shares & deposits them into depositary’s custodian account. The depositary Issues new DRs to purchasing broker.

 


Ownership Structure how to invest
Ownership Structure How to Invest