Egypt Implements New Rules for Companies on Stock Exchange on February 1st

Egypt Implements New Rules for Companies on Stock Exchange on February 1st

Egypt's financial regulator implemented new regulations for companies listed on the Egyptian Exchange on February 1st, 2014. EGX Chairman Dr. Mohammed Omran stated that this action was set to help boost trading on the bourse and to attract more investment.

The Egyptian Financial Supervisory Authority (EFSA) Head Mr. Sherif Samy said that listed company will no longer need permission from the EFSA to split shares nor will have to call a general assembly prior to a capital increase as long as it complies with pre-set rules, Mr. Samy also added that the new rules will make it easier for companies wishing to list on the Stock Exchange.

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