EFSA sets deadline for abiding by minimum of 5% freefloat shares

Thirty companies could be delisted from the EGX if they do not meet new listing regulations handed down by the Egyptian Financial Supervisory Authority (EFSA) which we noted last week. Under the new amendments, companies do not have at least 5% of their shares in freefloat could face delisting and will be notified within a month of their status, outgoing EFSA chairman Sherif Samy told Reuters’ Ehab Farouk. The 30 companies include Orange Egypt, QNB, the National Cement Company, Alexandria Container & Cargo Handling Company, the International Company For Leasing (Incolease), and Bank ABC.