{"id":628368,"date":"2018-05-02T04:18:50","date_gmt":"2018-05-02T04:18:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/02\/fra-raises-minimum-required-ownership-stake-for-mtos-to-50-from-33\/"},"modified":"2018-05-02T04:18:50","modified_gmt":"2018-05-02T04:18:50","slug":"fra-raises-minimum-required-ownership-stake-for-mtos-to-50-from-33","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/02\/fra-raises-minimum-required-ownership-stake-for-mtos-to-50-from-33\/","title":{"rendered":"FRA raises minimum required ownership stake for MTOs to 50% from 33%"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>EXCLUSIVE- FRA raises minimum required ownership stake for MTOs to 50% from 33%: <\/strong>The Financial Regulatory Authority (FRA) has approved regulatory amendments that require investors who own more than 50% of a listed company to make a mandatory tender offer to purchase the remaining shares, up from 33% currently, FRA deputy boss Khaled El Nashar told us this week. The amendments also <strong>allow investors who own more than 66% of a company to make an MTO to acquire up to only 90% of total shares<\/strong>, if they vow to refrain from delisting. The Investment Ministry has yet to sign off on the amendments before they are issued, El Nashar said.<\/p>\n<p><strong>Also from the FRA\u2019s docket: Securities firms will be allowed to set up mutual funds. <\/strong>The FRA\u2019s board has also approved new regulations that will allow securities and brokerage firms to establish mutual funds, according to El Nashar. <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/17\/brokerage-firms-can-now-seek-license-to-receive-subscription-orders-for-private-investment-funds-omran\/\">Earlier this month<\/a>, the FRA had issued new rules that allow brokerage firms to take orders for subscriptions in investment funds, which had previously been accessible only through banks.<\/p>\n<p><strong>FRA to begin drafting rules for futures exchange: <\/strong>In other news from the regulator, FRA boss Mohamed Omran has asked that a committee be formed to draft the rules and regulations that will govern future exchanges, Al Shorouk reports. The establishment of future exchanges became possible after the House of Representatives <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/14\/house-passes-amendments-to-the-capital-markets-act\/\">approved in February<\/a> amendments to the Capital Markets Act. Omran had <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/02\/nasr-omran-unveil-new-2018-2022-strategy-for-development-of-non-banking-financial-sector-2\/\">previously said<\/a> that future exchanges are part of a four-year strategy to develop the non-banking financial sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EXCLUSIVE- FRA raises minimum required ownership stake for MTOs to 50% from 33%: The Financial Regulatory Authority (FRA) has approved regulatory amendments that require investors who own more than 50% of a listed company to make a mandatory tender offer to purchase the remaining shares, up from 33% currently, FRA deputy boss Khaled El Nashar [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628368","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"691a986d-dd66-4b2d-b527-e668d73ef709","order":"0","is_powered_by":true,"section_story_id":"8ed63599-9766-42f7-9186-e4d25657568d","story_type":"1","photo_url":"","photo_position":"above","related_issue":[628355],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The changes remove a\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\/2020\/1\/691.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":627749,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/11\/fra-will-be-tight-on-shorts-pushes-through-amends-to-listing-regulations\/","url_meta":{"origin":628368,"position":1},"title":"FRA will be tight on shorts, pushes through amends to listing regulations","author":"enterpriseam admin","date":"11 June 2018","format":false,"excerpt":"REGULATION WATCH- Hear ye, brokers looking to short: Meanwhile, FRA is looking into imposing \u201cstrict\u201d compliance regulations for brokerages looking to get into short selling, FRA deputy head Khaled El Nashar reportedly said on Sunday. The regulations will ensure that only brokerages with the balance sheet strength to offer short\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":573913,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/","url_meta":{"origin":628368,"position":2},"title":"FRA wants private sector to hold ownership stake (and possibly majority) in upcoming futures exchange","author":"enterpriseam admin","date":"24 August 2020","format":false,"excerpt":"SMART POLICY- FRA wants private sector to own a chunk (and possibly a majority stake) of the futures exchange: It appears that the Financial Regulatory Authority (FRA) wants the private sector to hold a stake in the long-awaited futures exchange, FRA Vice President Khaled El Nashar told Hapi Journal on\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\/2020\/8\/177.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593466,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/court-rejects-acumen-raya-lawsuits-against-fras-mohamed-omran\/","url_meta":{"origin":628368,"position":3},"title":"Court rejects Acumen, Raya lawsuits against FRA\u2019s Mohamed Omran","author":"enterpriseam admin","date":"28 November 2019","format":false,"excerpt":"DISPUTE WATCH- Court rejects Acumen Holding\u2019s lawsuit against FRA boss for reputational damage: A Giza court rejected yesterday a EGP 20 mn lawsuit filed by Acumen Holding against Financial Regulatory Authority (FRA) Chairman Mohamed Omran for alleged reputational damage, according to Al Mal. The company had demanded compensation for harm\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\/2019\/7\/2993.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575420,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/egypts-fra-approves-heidelbergcement-suez-cement-mtos-for-subsidiaries\/","url_meta":{"origin":628368,"position":4},"title":"Egypt\u2019s FRA approves HeidelbergCement, Suez Cement MTOs for subsidiaries","author":"enterpriseam admin","date":"14 October 2020","format":false,"excerpt":"M&A WATCH- HeidelbergCement and Suez Cement\u2019s MTOs for the remaining stakes in their subsidiaries got the regulatory greenlight from the Financial Regulatory Authority (FRA) yesterday, according to two separate regulatory filings (here and here \u2014 pdfs). HeidelbergCement is lodging a mandatory tender offer for 33% of its Egypt subsidiary, Suez\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":631601,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/22\/fra-considering-new-listing-regulations-that-would-raise-the-minimum-requirement-for-free-float\/","url_meta":{"origin":628368,"position":5},"title":"FRA considering new listing regulations that would raise the minimum requirement for free float","author":"enterpriseam admin","date":"22 March 2018","format":false,"excerpt":"FRA considering new EGX listing regulations that would raise the minimum requirement for free float: The Financial Regulatory Authority (FRA) is considering amending EGX listing regulations to raise the minimum requirement for the number of shares that need to be in free float, Deputy Head Khaled El Nashar said yesterday,\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\/628368","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=628368"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628368\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/628355"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=628368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=628368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=628368"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=628368"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=628368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}