The Egyptian Financial Supervisory Authority issued amendments governing subscriptions to real estate funds that would allow real estate companies to trade in shares of their company or properties for shares in real estate funds in an initial public offering, EFSA chief Sherif Samy said. Companies which subscribe to a real estate fund through their own shares must hold its traded stocks in the fund for a minimum of two years before selling them, according to an EFSA statement. The regulator lifted the cap in place on subscription in these funds through real estate shares, allowing the fund’s board to determine the limit.

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