Arab Finance: The Financial Regulatory Authority (FRA) announced new amendments to facilitate the procedures of increasing capitals of EGX-listed firms, according to a statement on February 6^th.

The new rules include stricter timelines that would shorten up to 37 working days from the approval process.

The FRA also said that EGX-listed firms will have a deadline of two working days, instead of an infinite timeframe, to submit their capital hike disclosure reports to the FRA for approval.

The regulator noted that firms have to schedule for the general assembly meeting to decide upon the capital hike plan and notify shareholders seven days in advance, down from a previous 21 days to approve capital increases.

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