The Financial Regulatory Authority (FRA) has granted approval for two mandatory tender offers (MTOs), clearing both Wafa Assurance and Raya Holding to proceed with acquisition bids
According to Finance Minister Ahmed Kouchouk, the government is actively considering a package of measures to attract more companies to list on the stock market, deepen market liquidity, and broaden investor participation
According to Ahmed El Sheikh, Chairman of the EGX, the collaboration with Nasdaq will also include the development of new trading supervision systems.
The current rules mandate that these shareholders must freeze 51% of their shares for a minimum of two years post-IPO
This change follows the government’s revised approach for selling the United Bank
