Tuesday September 19 2017
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Cyprus
Link: http://www.cse.com.cy/en-GB/legal-framework/proposed-legislation/4494/
On 19th September, the Cyprus Stock Exchange announced that it has amended Paragraph 3.9.1 (a) of the Regulatory Decision on the Stock Exchange Markets (RAA 379/2014), concerning in particular the Emerging Companies Market of the Stock Exchange.
The text of the Amendment reads as follows:
“It is provided that in the case of a newly established company, if the price of issue at which it shall commence trading is different from its nominal value, a valuation of its securities must be performed by an IF licenced to provide the investment service laid down in paragraph 6 or paragraph 7 of Part I or the ancillary service laid down in paragraph 3 of Part II of the Third Supplement of the Investment Services and Activities and Regulated Markets Law, or by an Audit Firm.”
For additional information please click the link above.