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What we’re tracking on 16 March 2020
It’s another big news day, and there’s more in store after the EGX plunged 9.3% yesterday (it’s worst one-day selloff…
Market regulator mulls moving a lawsuit against Adeptio
DISPUTE WATCH- Market regulator mulls moving a lawsuit against Adeptio chairman: The Financial Regulatory Authority (FRA) is considering filing charges…
FRA orders brokerages to appoint anti-money laundering czar
REGULATION WATCH- Brokerages now need to appoint a dedicated anti-money laundering czar: Brokerage companies have received a letter from the…
Egypt’s ECHEM planning EGP 1 bn sukuk issuance
DEBT WATCH- ECHEM planning EGP 1 bn sukuk issuance: The Egyptian Petrochemicals Holding Company (ECHEM) is considering issuing EGP 1…
STC begins Vodafone Egypt due diligence
M&A WATCH- STC begins Vodafone Egypt due diligence: Saudi Telecom (STC) has begun doing due diligence on Vodafone Egypt ahead…
Palm Hills Egypt board approves purchase of 62 mn treasury stocks
Palm Hills Development’s (PHD) board of directors approved the purchase of 62.351 mn treasury stocks to hedge against the "unjustified"…
Egypt’s FRA suspends 3-day notice requirement for treasury stock purchases
REGULATION WATCH- Market regulator suspends three-day notice requirement for listed companies’ treasury stock purchases: The Financial Regulatory Authority (FRA) introduced…
FRA to require Egyptian financial service firms to digitize transactions
REGULATION WATCH- The Financial Regulatory Authority (FRA) is preparing a draft law that would require financial institutions to digitize their…
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