{"id":552559,"date":"2022-09-13T14:02:07","date_gmt":"2022-09-13T14:02:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/13\/this-evening-fra-issues-amended-regulations-to-make-it-easier-for-companies-to-meet-listing-and-ipo-requirements-el-sisi-is-in-doha\/"},"modified":"2022-09-13T14:02:07","modified_gmt":"2022-09-13T14:02:07","slug":"this-evening-fra-issues-amended-regulations-to-make-it-easier-for-companies-to-meet-listing-and-ipo-requirements-el-sisi-is-in-doha","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/13\/this-evening-fra-issues-amended-regulations-to-make-it-easier-for-companies-to-meet-listing-and-ipo-requirements-el-sisi-is-in-doha\/","title":{"rendered":"THIS EVENING: FRA issues amended regulations to make it easier for companies to meet listing and IPO requirements + El Sisi is in Doha"},"content":{"rendered":"

Good afternoon, ladies and gentlemen.<\/strong> It\u2019s so far the kind of hump day where there isn\u2019t a massive volume of news coming in on the home front, but what news there is, is significant.<\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

<\/a> FRA eases regs on listing + IPO procedures:<\/strong> Companies will be able to temporarily list their shares on the EGX before seeking regulatory approval from the Financial Regulatory Authority (FRA), as part of new amendments to listing rules (pdf)<\/a> announced by the regulator today. Under the amendments, companies will get a six-month grace period to meet regulatory requirements \u2014 including the minimum number of shares being listed and shareholders in the company \u2014 to complete the IPO of their shares. Listing regulations previously required companies to seek pre-approval from the FRA before listing their shares on the bourse and gave them a one-month window to begin trading after getting the FRA\u2019s blessing.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

It\u2019s all about Ukraine in the international press this afternoon<\/strong>, after Ukrainian President Volodymyr Zelenskiy said last night that its forces have recaptured over 6k square kilometers of eastern and southern territory this month. Ukrainian forces have continued to push back Russian troops along the front line, but top US officials say it is too early to tell whether the successful counteroffensive can sway the near-term outlook on the battlefield. The story is on the front pages of the Financial Times<\/a>, the Wall Street Journal<\/a>, Reuters<\/a>, and Bloomberg<\/a>.<\/p>\n

HAPPENING NOW-<\/strong><\/p>\n

<\/a> President Abdel Fattah El Sisi is in Doha for his two-day visit to Qatar<\/strong>, where he is set to meet with Emir Sheikh Tamim bin Hamad Al Thani, according to an Ittihadiya statement<\/a>. Expect investment to be the major item on the agenda, if a string of reports<\/a> in the local media that Qatar's sovereign fund may buy shares in prominent Egyptian companies is anything to go by. The reports suggest the Qatar Investment Authority is looking to follow in the footsteps of Saudi Arabia<\/a> and Abu Dhabi<\/a>\u2019s sovereign wealth funds, which have been snapping up shares in high-profile Egyptian companies. El Sisi\u2019s trip to Doha comes after Thani\u2019s visit to Cairo in June, which was his first visit since the two countries normalized relations<\/a> in early 2021.<\/p>\n

\n

** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n