Regulatory Alerts2020-01-01
Decision of the Board of Directors of the Financial Regulatory Authority No. 27 of 2020 Amending Decision No. 11 of 2014 on Listing and Delisting Rules for the Egyptian Exchange
The Financial Regulatory Authority of Egypt issued Decision No. 27 of 2020 to amend Article 51 of its 2014 rules governing the listing and delisting of securities on the Egyptian Exchange. The amendment requires any company repurchasing its own shares as treasury stock to notify the Exchange at least three working days prior to execution, providing detailed justification, trading parameters, pricing, volume, execution period, broker details, funding source, and projected market impact alongside board meeting minutes. This regulatory update takes effect immediately upon publication in the Egyptian Gazette and on the official websites of the Authority and the Exchange.
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