{"id":559802,"date":"2021-02-04T03:56:40","date_gmt":"2021-02-04T03:56:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/04\/fawry-could-make-msci-ftse-this-year\/"},"modified":"2021-02-04T03:56:40","modified_gmt":"2021-02-04T03:56:40","slug":"fawry-could-make-msci-ftse-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/04\/fawry-could-make-msci-ftse-this-year\/","title":{"rendered":"Fawry could make MSCI, FTSE this year"},"content":{"rendered":"

Payments giant Fawry could make it onto the FTSE and MSCI emerging markets indices <\/strong>this year<\/strong>, Arqaam Capital said in a research note on Tuesday, a few days after the company was added to the EGX30<\/a>.<\/p>\n

Inclusion in FTSE is a \u201cstraightforward call\u201d and is expected on 21 September:<\/strong> Fawry\u2019s freefloat market cap (number of shares in freefloat multiplied by price) currently stands at some USD 631 mn, far exceeding the USD 487 mn required for entry. It also meets the liquidity requirements, which ensures inclusion in the FTSE EM All Cap Index\u2019s next rebalancing on 21 September \u2014 with a weight of 0.0082%.<\/p>\n

MSCI isn\u2019t as clear cut: <\/strong>Fawry could replace Elsewedy Electric on the MSCI EM Standard index \u2014 which is currently tracked as one of the top three Egyptian stocks (alongside CIB and Eastern Company) \u2014 when the index is rebalanced on 21 May if Elsewedy\u2019s shares continue to underperform. Fawry would need to outperform Elsewedy only by a small margin as Fawry\u2019s shareholders include foreign institutions, which means its freefloat cap is adjusted by a foreign ownership factor, Arqaam said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Payments giant Fawry could make it onto the FTSE and MSCI emerging markets indices this year, Arqaam Capital said in a research note on Tuesday, a few days after the company was added to the EGX30. Inclusion in FTSE is a \u201cstraightforward call\u201d and is expected on 21 September: Fawry\u2019s freefloat market cap (number of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7303],"tags":[102,68,72,519],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559802","post","type-post","status-publish","format-standard","hentry","category-capital-markets","tag-capital-markets","tag-egx","tag-enterpriseam","tag-fawry","wpautop","entry"],"acf":{"mongo_id":"8c76fb81-6f1e-470c-a318-81ad04ed305a","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[559794],"teaser":"","voice_url":""},"yoast_head":"\nFawry could make MSCI, FTSE this year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/04\/fawry-could-make-msci-ftse-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry could make MSCI, FTSE this year\" \/>\n<meta property=\"og:description\" content=\"Payments giant Fawry could make it onto the FTSE and MSCI emerging markets indices this year, Arqaam Capital said in a research note on Tuesday, a few days after the company was added to the EGX30. 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