FRA raises minimum ownership transfer value for non-listed securities
Updated 1/22/2025 3:25:00 PM
Arab Finance: The Financial Regulatory Authority (FRA) has increased the minimum value for ownership transfers of non-listed securities that are subject to the Egyptian Exchange’s (EGX) and the authority’s approval to EGP 60 million, instead of EGP 20 million, as per a statement.
This newly issued Decree No. 303 of 2024 comes as an amendment to Decision No. 94 of 2018, governing rules and procedures of trading on non-listed stocks in the EGX.
As for transactions worth less than EGP 60 million, the announcement procedures of implementing them on the EGX will proceed.
The FRA also approved extending the period for considering bank deposits to settle the value of the securities being traded on to two months, instead of one month, provided that an FRA approval is received two months prior to the application submission date.
On January 19th, the authority set the minimum capital for Egypt-based insurance companies, in implementation of the provisions of the Unified Insurance Law issued in July 2024.
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