Financial Regulatory Authority

FINANCIAL REGULATORY AUTHORITY

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Chairman of the Authority

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Decision of the Board of Directors of the Financial Regulatory Authority

No. (7) of 2020 dated 13/1/2020
Amending Decision of the Board of Directors No. (48) of 2019
Regarding Public and Private Offering Rules and Procedures

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The Board of Directors of the Financial Regulatory Authority,
Having reviewed the Capital Market Law issued under Law No. (95) of 1992 and the implementing decisions issued thereunder;
And Law No. (10) of 2009 regulating supervision over non-banking financial markets and instruments;
And Presidential Decree No. (191) on the provisions governing the management of the Egyptian Exchange and its financial affairs;
And the Statutes of the Financial Regulatory Authority issued by Presidential Decree No. (192) of 2009;
And Decision of the Board of Directors No. (48) of 2019 regarding public and private offering rules and procedures;
And the approval of the Board of Directors in its session held on 13/1/2020;

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Has Decided

(Article One)

The text of Item (1) of Part "Ninth: Rules and Procedures for Private Offerings" contained in Decision of the Board of Directors No. (48) of 2019, referred to above, is replaced with the following:

1- The minimum subscription for related individual investors shall be 0.5% of the offering value or one million Egyptian pounds, whichever is less, and for financial institutions, 1% of the offering value or ten million Egyptian pounds, whichever is less.

(Article Two)

This Decision shall be published in the Egyptian Gazette and on the websites of the Authority and the Egyptian Exchange, and shall take effect from the day following its issuance date.

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Chairman of the Board of Directors

Dr. Mohamed Omran

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Notes:

• Address: Building 136, Giza, Egypt
• Postal Code: 110
• Telephone: +202 2204530
• Fax: +202 22070036
• WWW.FRA.GOV.EG

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