Regulatory Alerts2010-01-01
Decision of the Board of Directors of the Authority No. (132) of 2010
The Egyptian Financial Supervisory Authority (EFSA) issued Decision No. 132 of 2010 to amend the rules governing the listing, continuation, and delisting of Egyptian securities. The decision introduces new requirements for split restructurings, mandates EFSA non-objection for dual listings on foreign exchanges, and tightens deadlines for submitting annual and quarterly financial statements and related disclosures. Additionally, it establishes fair valuation procedures for acquisitions exceeding 20% of unlisted companies and protects minority shareholders in delisting scenarios by requiring buyout commitments at fair value.
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