The board of directors of the Egyptian Financial Supervisory Authority (EFSA) decided on Monday to oblige companies willing to float their shares or increase their capital to firstly register its data at the authority and fulfill all requirements needed to assess the just values of their shares before trading at the bourse.

A statement released by EFSA on Monday said the decision comes as part of efforts exerted to accelerate the measures needed to float the companies at bourse and in application of the international standards applied at the international stock markets worldwide.

EFSA statement asserted its commitment to applying transparency and quality standards and answering companies' applications within 15 days of submitting their papers.

The move aims at encouraging companies to float their stocks at the bourse in a brief time.

The decision will be followed by other executive measures for registering the companies at EFSA after consulting the Egyptian Stock Exchange. The measures will be published in the Gazette and are to be applicable one day after publishing it.

Source : Mena