Regulatory Alerts2025-02-19
Regulatory Bylaw No. 13: Exchange of Listed Shares for Other Listed Shares
The Iraq Securities and Exchange Commission issued Bylaw No. 13 to regulate the exchange of listed shares for other listed shares, requiring a prior agreement between parties and submission of a request to the intermediary company. The bylaw mandates full ownership, compliance with anti-money laundering laws, and market approval for transactions involving up to 250 million shares. It further stipulates that exchanged securities must be of equal value, free from trading restrictions, and subject to mandatory market announcements and fee payments upon execution.
Share