FRA considering new listing regulations that would raise the minimum requirement for free float
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, Al Mal reports. The proposed amendments would force companies that are already listed to increase their free float to 10% of total shares, up from 5%. Meanwhile, those looking to IPO might have to choose between two options: The first will be to list at least 20-25% of their shares, up from 10% currently; and the second would entail listing a number of shares equivalent to 0.005% of the total freefloat capital in the EGX. El Nashar said that listed companies would be given a fair window to comply with the new regulations, which are still under study, without specifying the time frame.