EGX Issues the Executive Regulations for the Registering and Executing the IPO & Private Placement

The Egyptian Exchange (EGX) issued a decree regulating the procedures for
registering and executing public and private placements in the Egyptian capital
market after being approved by the Financial Regulatory Authority (FRA).
The amended decree allows Specialized committee in EGX to adjust the timeline
for receiving orders during the offering, according to the justifications provided by
the offering Manager and accepted by EGX, up to two working days before the
end of the period of registration of orders at the EGX platform. 
The Financial Regulatory Authority shall be notified of the Committee's decision
and a summary of the justifications submitted to the EGX before the
implementation of the required amendment begins. Misr for Central Clearing,
Depository and Registry (MCDR) shall also be notified of the amendment as well
as the offering Manager shall be committed to disseminate the amendments
through the means prepared for this purpose at EGX.
During the validity period, EGX shall announce on the trading screens the
coverage ratio of the private placement and the execution price, this immediately
after receiving the offer manager’s statement. The MCDR must be notified to do
its duties.  
The Egyptian Exchange will automatically deleting orders of retail investors that
overlap with orders from the same party in the private placement once orders are
placed on its OPR system.