Regulatory Alerts1999-01-01
Law No. 9 of 1999 Regarding Underwriting of Unsubscribed Shares
The Egyptian Financial Regulatory Authority issued Law No. 9 of 1999 to regulate the underwriting obligations of banks and companies that received public subscriptions. The legislation mandates that these entities must cover any portion of the offered shares that remains unsubscribed by investors. This requirement ensures the full capitalization of the issued shares and protects the integrity of the public offering process.
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