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IPOs and EGX Listings

FRA registers 3 companies ahead of their EGX IPOs | FRA Chairman

The 3 mentioned companies are Macro Group Pharmaceuticals, Nahr El khair for Development, Investment, and Environmental Service, and Industrial and Engineering Projects Co.

SPACs incoming| FRA releases regulations for special purpose acquisition companies

Capital requirements, shareholder structure and SPAC founders’ regulatory responsibilities were announced, as well as changes to the rules for listing and delisting of securities on the Egyptian Exchange (EGX)

Al Ahly’s board of directors are looking into possible IPO for AAFC

The shares will be sold in the newly-formed Al Ahly Football Company (AAFC), which according to board member Mohamed El Damaty

Egypt to expand state IPO program to boost private sector contribution to 50%

The expansion aims to widen the ownership base of state-owned companies and provide the private sector with an opportunity to contribute to these companies

Egypt’s FRA to allow creation of special-purpose acquisition companies (SPAC)

FRA noted that it came to its decision after studying many international practices, after which they concluded that SPACs is a preferred method for many experienced founders and major shareholders