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Egyptian Exchange updates listing and delisting rules
The General Authority for Financial Supervision issued an amendment to the rules for registering and removing securities on the Egyptian Exchange. The amendment includes a ban on dealings by insiders, officials, and major shareholders (those holding 20% or more) in the company during the five working days before and one day after the release of financial results and statements. This measure aims to enhance transparency and reduce excessive insider trading. Additionally, the amendment mandates the creation and periodic updating of a register of concerned individuals, notifying them of the blackout periods through reliable means, and the exchange's publication of trading data following these updates after implementation. The goal of the decision is to regulate insider transactions and protect the market from any undisclosed trading movements that could affect fairness and transparency.
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