Regulatory Alerts2023-01-15
Iraqi Capital Markets Authority Regulatory Instructions and Regulations 2022: Listing Requirements for the Second Market
The Iraqi Capital Markets Authority issued Regulatory Instruction 15 in 2022 to establish the conditions, trading rules, and disclosure requirements for companies listing on the Second Market. The regulation mandates that applicants be joint-stock companies with at least one year of operation and audited financials, while enforcing specific trading mechanisms such as price limits and free pricing periods post-listing. It further outlines the criteria for descending from or ascending to the Main Market, as well as the grounds for delisting due to non-compliance or lack of trading activity.
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