News Details

EGX to make it Easier for Non-Egyptian Companies to List – Provided they Do a lot of Business in E

30/11/2020

Non-Egyptian companies can now list shares in Egypt without meeting high capital requirements, provided they fulfill other conditions. The rules previously only allowed companies domiciled abroad to list on the EGX if their capital exceeds USD 100mn, or is between USD 10-100mn for smaller caps looking to list on Nilex. To be exempt from the minimum capital requirement for foreign companies, these entities must have more than 50% of their shareholders’ equity, revenues, and assets attributable to subsidiaries they registered in Egypt. They also cannot be listed elsewhere before coming to Egypt. Companies that meet these requirements will be subject to the same capital requirements that apply to their homegrown counterparts. (FRA Release, Enterprise).

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