EGX issues regulations for executing public, private placement

BY

-

Thu, 21 Nov 2019 - 04:12 GMT

BY

Thu, 21 Nov 2019 - 04:12 GMT

FILE - EGX

FILE - EGX

CAIRO - 21 November 2019: The Egyptian Stock Exchange (EGX) issued a decision Thursday to implement the procedures for registering and executing public and private placements.

EGX added in a statement that the issued executive procedures have allowed the competent committee of the Stock Exchange to change any of the regulatory dates for the offerings as justified by the offering manager and accepted by the bourse two working days prior to the end of the registration period.

It explained that the Financial Regulatory Authority shall be notified by the decision of the committee and a summary of the justifications submitted to the Stock Exchange before the implementation of the required amendment.

The statement pointed out that during the period of validity of the registration period, the bourse shall announce on the trading screens the coverage ratio of the private placement and the execution price as soon as the offer manager's statement is received.

"It shall also announce on the trading screens what is received from the Offering Manager in case of the availability of material emergency information and new information that will change the Offering Circular. That is subject to the authority's approval, which may publish reminder announcements regarding the Offering," it added.

According to the executive procedures, EGX automatically deletes the orders of the clients participating in the public offering and those who are registered in the private placement once the names and orders of the clients of the private placement system have been registered after the allocation process.

The statement referred that the activation of these procedures would give more clarity and organization to the public and private placements to facilitate the completion and follow-up of the implementation of the IPO operations.

Comments

0

Leave a Comment

Be Social