121 Firms Not Needing Egypt Bourse’s Nod to Split Shares – Official

The Chairman of the Egyptian Exchange (EGX) Mohamed Omran revealed on Tuesday that nearly 121 companies with less than 5 million outstanding shares will no longer need permission from the EGX to split their shares as pursuant to the new rules set by the market regulator.

Speaking to state-owned agency MENA, the top official said the EGX board would review in its upcoming meeting the executive regulations for listing rules, which were set by a committee formed by him.

Oman added that the name of these companies would be posted on EGX website before the end of this week.