The Egyptian Exchange (EGX) Chairman Mohamed Omran has issued a decision on Wednesday reducing by half the documents needed for companies to list on the stock market. The move is aimed at attracting more share listings.
The total number of documents now demanded for listing is 12, having previously been 24, the EGX said in its official statement.
The decision eliminated the need for copies of banking deposits showing the evolution of capital, copies of general assembly meeting minutes and the list of the board of director who participated in the capital increase.
EGX urged companies not to hide any information that might affect the validity of the listing process. They added that it “reserves the right to claim any additional documents may be required by the screening process”.