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Capital Markets Law > Capital Markets Law The Capital Markets Law regulates the capital markets in Egypt. Under the Capital Markets Law, any company intending to issue securities must notify the Capital Markets Authority (CMA), which then has three weeks in which to review the proposed securities issuance. For a public issuance of securities, a company must prepare a prospectus approved by the CMA and must provide the CMA with periodic reports and information relating to such a public issuance. A Company offering part of its shares in a public offering, or trading a minimum of 30% of its shares on the stock exchange, must inform all shareholders owning at least 1% of the company's capital of any other shareholder wishing to increase its shareholding above 10%. The Capital Markets Law also allows the issuing company to set a return on securities that exceed the limits established to other laws (i.e. 7% ceiling in the Civil Code) The Capital Markets Law provides that securities transactions may only be undertaken by financial services companies licensed by the CMA. Board members of such companies must have a minimum of five years' experience in the field of securities or must have four years' experience and have participated in a training course set up by the CMA.
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Building 534, Apt. 5, Hadayek El Mohandessin, Sheikh Zayed, 6th of October, Egypt
Tel: +202 3850 1600 E-mail: info@gloryip.com |
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