EGX introduces list "D" for companies to be written off

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Wed, 26 Aug 2020 - 02:25 GMT

FILE - Employees in the EGX following performance of the trading session on December 12, 2017

FILE - Employees in the EGX following performance of the trading session on December 12, 2017

CAIRO – 26 August 2020: The Egyptian Stock Exchange introduced list “D” for listing companies.

 

The list includes securities that may be written off in the event that they do not comply with the rules of registration and disclosure, or that intend voluntary delisting, EGX clarified.

 

EGX in a statement that List D is a sub-list to be added to the three lists currently in force, which include List A for the most active securities, List B for medium-activity securities, and List C for Listed Securities that have not met the quantitative and qualitative criteria for inclusion in either of the A and B lists.

 

The new list includes cases of compulsory write-off, as well as cases of violation of the rules of registration and disclosure that result in suspension of dealing for unlimited periods, as well as the Nile Stock Exchange companies that are not obligated to appoint an official sponsor throughout the period of their registration.

 

EGX added that the new list contributes greatly to ensuring the continuity of investors in dealing in listed securities, and not harming the interests of dealers and withholding liquidity.

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