Cairo - Mubasher: The Egyptian Financial Supervisory Authority (EFSA) has recently amended listing regulations, and obliged companies wishing to list shares on the Egyptian Exchange (EGX) with new rules.

Rules include first obtaining EFSA’s approval and meeting all its requirements, and submitting details of the initial public offering (IPO), including the fair value evaluation, offering prospectus, and disclosure forms, according to an official statement issued Monday.

EFSA will then commit to review documents within 15 days after receiving the company’s request, while companies will have to offer the shares within one month of receiving the authority’s approval.

The move comes as the financial supervisory authority seeks to speed ​​up listing procedures, and shorten the required steps, as well as enhancing transparency and meeting global standards.

Regulatory and monitoring bodies will monitor the extent to which companies meet the fair value reports

The decision entails the change of many rules and procedures of the rules of registration by EFSA, after consultation with EGX, before it is published in the official journal and become effective the day after, the statement concluded.