(3 minutes read)
- The Financial Regulatory Authority (FRA) of Egypt issued two resolutions No. (171 and 172) of 2021 known as SPAC on rules governing the activity of companies with the purpose of acquisition,
- The two decisions are amendment to the rules for listing and delisting securities on the Egyptian Stock Exchange after the approval of the authority’s board of directors
- These amendments were aimed at making the regulations similar to best international practices for this type of company in countries like the United States of America, Britain, Singapore, Sweden, and Malaysia and Hong Kong.
The Financial Regulatory Authority (FRA) of Egypt issued two resolutions No. (171 and 172) of 2021 known as SPAC on rules governing the activity of companies with the purpose of acquisition,
The two decisions are amendments to the rules for listing and delisting securities on the Egyptian Stock Exchange after the approval of the authority’s board of directors. These amendments were aimed at making the regulations similar to best international practices for this type of company in countries like the United States of America, Britain, Singapore, Sweden, and Malaysia and Hong Kong.
This aim is to help bring more investments in sectors like technology, innovations, and digital technologies. It also seeks establishment of companies with the purpose of acquisition as a venture capital company. The Regulatory Authority would facilitate investors’ access to financing to achieve Egypt’s Vision 2030.
