Tuesday October 31 2017
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Egypt
Link: http://www.efsa.gov.eg/content/efsa_ar/efsa_news/efsa_611.htm
On the 30th October 2017, the Egyptian Financial Supervisory Authority (EFSA) announced that it will update its IPO Procedures. The changes will ensure that the rules on the placement of shares on the Egyptian Stock Exchange are brought into line with international standards.
The changes will be a welcome development for investors who will be notified of the timing of the offering, listing and trading more accurately.
The EFSA is hopeful that the changes to IPO procedures will encourage companies to offer their securities within a short period of time.
Despite these changes the EFSA has maintained that an adequate financial valuation criteria will still be used to determine the fair value of shares.
For additional information please click the link above