Regulatory Alerts2019-01-01
Financial Regulatory Authority Board Decision No. (32) of 2019
The Financial Regulatory Authority (FRA) of Egypt issued Board Decision No. (32) of 2019 to amend the Egyptian Exchange's listing and delisting rules. The decision extends the securities offering deadline for previously listed companies to September 30, 2019, mandates a minimum 75% major shareholder retention ratio for two years, and establishes comprehensive financial, audit, and disclosure requirements for listing foreign shares and companies undergoing corporate restructuring via division or merger. Additionally, it introduces two new listing conditions for entities required to prepare consolidated financial statements and those resulting from corporate restructuring, specifying strict profit, equity, and auditor report thresholds.
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