FRA lowers annual service fees for listed companies by half
REGULATION WATCH- FRA lowers annual service fees for listed companies by half: The Financial Regulatory Authority has slashed annual service fees for listed companies by 50%, FRA boss Mohamed Omran said in a statement yesterday. Companies on the EGX will have to pay an annual fee equivalent to 0.05% of their issued capital, down from 0.1% previously. The minimum fee threshold has also been reduced to EGP 5,000 from EGP 10,000, with the ceiling set at EGP 25,000. Fees for companies listed on the Nilex have also been reduced by 50%.
Background: The move is the latest in a series of changes to listing and trading regulations, which the FRA adopted recently to boost EGX liquidity and improve stock market performance, as well as encourage new companies to join the capital market. The coming period is expected to see the FRA issue more regulatory and policy changes, as well as introduce new instruments to the market, short-selling, futures and commodities exchanges, as well sukuk and green bonds.