Regulatory Alerts2023-01-01
FRA Board of Directors Decision No. 11 of 2023 Amending the 2014 Rules for Listing and Delisting Securities at the Egyptian Exchange
The Egyptian Financial Regulatory Authority issued Decision No. 11 of 2023 to amend the listing and delisting rules for securities at the Egyptian Exchange. The decision replaces Articles 48 and 52, introduces new Articles 12 bis, 48 bis, and 51 bis, and establishes detailed conditions for capital adjustments, phased issuance programs, treasury share transfers, and the listing of unrated bonds and sukuk. It mandates specific disclosure timelines, financial advisor valuations for cash increases, auditor certifications, and board authorization limits to ensure market transparency and investor protection.
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