EGX gives companies not meeting listing requirements two months to present plans

The EGX has decided to notify companies that do not meet the listing regulations and gave them six months to address the bourse within two months with a plan that has a maximum timeline of six months to rectify the issues. Among those receiving warnings are Orange Egypt and QNB Al Ahli Bank for violating the percentage of shares in float, Misr National Steel (Ataqa) and Obour Land for not meeting the requirements for the minimum number of investors, and Arab Dairy for not meeting both requirements. The full list can be found here. The EGX also gave an update about the number of shares still available to be converted to GDRs for the relevant listed companies.