{"id":581280,"date":"2023-02-07T00:00:00","date_gmt":"2023-02-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/07\/capital-increases-for-listed-companies-are-going-to-be-easier-and-faster\/"},"modified":"2023-02-07T00:00:00","modified_gmt":"2023-02-07T00:00:00","slug":"capital-increases-for-listed-companies-are-going-to-be-easier-and-faster","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/07\/capital-increases-for-listed-companies-are-going-to-be-easier-and-faster\/","title":{"rendered":"Capital increases for listed companies are going to be easier and faster"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">A streamlined capital increase process: <\/span><span style=\"\">The Financial Regulatory Authority <\/span><span>(FRA) has amended rules governing capital increases in a bid to make it easier for EGX-listed <\/span><span style=\"\">firms to raise fresh capital, the FRA said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3DJf2nC\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\"> yesterday.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Faster approvals: <\/span><span style=\"font-weight:400;\">The FRA has brought in stricter timelines that the regulator says should shave up to 37 working days off the approval process. <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Companies now have two working days to disclose capital increase plans after the FRA approves them.<\/span><span style=\"font-weight:400;\"> There had previously been no time limit on when companies should disclose FRA approval. <\/span><\/li>\n<li><span style=\"font-weight:700\">Companies must notify shareholders of meetings to approve capital increases seven days in advance<\/span><span style=\"font-weight:400;\">, down from a previous 21 days. <\/span><\/li>\n<li><span style=\"font-weight:700\">Existing shareholders will have seven days to subscribe to a capital increase before the shares are offered on the EGX<\/span><span style=\"font-weight:400;\">, down from 14 days previously. <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Companies can now carry out capital increases in phases<\/span><span style=\"\">, provided that the total capital increase doesn\u2019t exceed the company\u2019s current issued<\/span><span style=\"\"> capital<\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">All part of efforts to revive the EGX: <\/span><span>A<\/span><span>uthorities are working to stimulate investment on the bourse which is currently enjoying one of its strongest rallies in years on the back of the EGP devaluation. The government is preparing to reboot its state privatization program which will see fresh IPOs on the EGX and is considering a temporary <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/06\/a-temporary-capital-gains-tax-waiver-is-on-the-table-following-the-deval-95586\/\" style=\"\">waiver on capital gains tax<\/a><\/span><span style=\"font-weight:400;\"> on stock trades.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SPEAKING OF CAPITAL INCREASES-<\/span><span style=\"\"> The FRA yesterday approved CIB\u2019s request <\/span><span style=\"\">to <\/span><span>increase its issued and paid-up capital by 0.66% to almost EGP 30.2 bn, it said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/FRA-CIB.pdf\" style=\"\">a statement (pdf)<\/a><\/span><span style=\"font-weight:400;\"> to the bourse. The capital increase will be distributed over 20.44 mn shares. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A streamlined capital increase process: The Financial Regulatory Authority (FRA) has amended rules governing capital increases in a bid to make it easier for EGX-listed firms to raise fresh capital, the FRA said in a statement yesterday. Faster approvals: The FRA has brought in stricter timelines that the regulator says should shave up to 37 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":581281,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8614],"tags":[102,68,72,76,343,871],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation-watch","tag-capital-markets","tag-egx","tag-enterpriseam","tag-financial-regulatory-authority","tag-regulation","tag-regulation-watch","wpautop","entry"],"acf":{"mongo_id":"83129db7-4b59-4281-a653-376377de6aca","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/11\/Financial-Regulatory-Authority-FRA-1600px-fx.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581271],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.33a91eac-e20d-4a4c-a74a-06ab2717c3e5.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Capital increases for listed companies are going to be easier and faster - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/07\/capital-increases-for-listed-companies-are-going-to-be-easier-and-faster\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital increases for listed companies are going to be easier and faster\" \/>\n<meta property=\"og:description\" content=\"A streamlined capital increase process: The Financial Regulatory Authority (FRA) has amended rules governing capital increases in a bid to make it easier for EGX-listed firms to raise fresh capital, the FRA said in a statement yesterday. 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The rules previously only allowed companies domiciled abroad to list on the EGX if their capital exceeds USD 100 mn,\u2026","rel":"","context":"In &quot;REGULATION WATCH&quot;","block_context":{"text":"REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/311.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575170,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/05\/egypts-smes-to-get-50-discount-on-nilex-evaluation-fees-to-help-them-go-public\/","url_meta":{"origin":581280,"position":1},"title":"Egypt\u2019s SMEs to get 50% discount on Nilex evaluation fees to help them go public","author":"enterpriseam admin","date":"5 October 2020","format":false,"excerpt":"REGULATION WATCH- SMEs looking to IPO on the Nilex are getting a 50% break on evaluation fees charged by the Financial Regulatory Authority (FRA), the regulator said in a statement. The reduction would also apply to fees levied to qualifying companies seeking regulatory approval on market activities such as capital\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569247,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/18\/did-the-fra-just-make-reverse-takeovers-possible\/","url_meta":{"origin":581280,"position":2},"title":"Did the FRA just make reverse takeovers possible?","author":"enterpriseam admin","date":"18 February 2020","format":false,"excerpt":"REGULATION WATCH- Did the FRA just make reverse takeovers (aka: \u201creverse IPOs\u201d) possible? The Financial Regulatory Authority (FRA) has made two amendments to EGX listing regulations that allow publicly-traded companies to acquire larger non-listed companies, according to an official statement (pdf). Under the new rules, EGX-listed companies can go after\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562911,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/10\/corporate-bonds-can-now-be-traded-intraday-on-the-egx\/","url_meta":{"origin":581280,"position":3},"title":"Corporate bonds can now be traded intraday on the EGX","author":"enterpriseam admin","date":"10 June 2021","format":false,"excerpt":"EGX-listed corporate bonds are now eligible for intraday trading under a decisionpublished yesterday by the Financial Regulatory Authority that aims to buoy the secondary bond market. The decision will allow clearing house MCDR to settle transactions after the end of the trading day at the latest.The decision comes after financial\u2026","rel":"","context":"In &quot;REGULATION WATCH&quot;","block_context":{"text":"REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/152.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573845,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/19\/fra-issues-new-regulations-over-delisting-cancellation-of-listed-securities\/","url_meta":{"origin":581280,"position":4},"title":"FRA issues new regulations over delisting, cancellation of listed securities","author":"enterpriseam admin","date":"19 August 2020","format":false,"excerpt":"REGULATION WATCH- Shares in companies that voluntarily delist from the EGX can still be traded for up to three months after the company announces its plans to leave the exchange, according to new regulations the Financial Regulatory Authority (FRA) issued yesterday. The decision is meant to give shareholders some measure\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570879,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/21\/fra-rules-you-cant-be-both-ceo-and-chairman-of-an-egx-listed-company\/","url_meta":{"origin":581280,"position":5},"title":"FRA rules you can\u2019t be both CEO and chairman of an EGX-listed company","author":"enterpriseam admin","date":"21 April 2020","format":false,"excerpt":"REGULATION WATCH- FRA rules you can\u2019t be both CEO and chairman of an EGX-listed company: The Financial Regulatory Authority (FRA) has issued a decision requiring EGX-listed companies to separate the positions of CEO and chairman in a bid to improve governance, according to a statement. Companies are required to comply\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=581280"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581280\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/581271"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/581281"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=581280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=581280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=581280"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=581280"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=581280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}