Regulatory Alerts2017-01-01
Decision of the Board of Directors of the Authority No. (121) of 2017
The Egyptian Financial Supervisory Authority issued Decision No. (121) of 2017 to establish a mandatory registration registry for companies and entities seeking to list or offer securities on the Egyptian Exchange. The regulation mandates specific general and company-specific eligibility criteria, including fully paid capital, minimum profitability thresholds, clean judicial records for major shareholders and board members, and submission of audited financial statements. It further standardizes the approval process for offering circulars, requiring independent fair value studies, detailed offering plans, and strict five-day review timelines to ensure market transparency and investor protection.
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