Cairo – Mubasher: The Egyptian Exchange (EGX) said it amended the rules of issuing Global Depositary Receipts (GDRs) for listed companies.
Egypt’s bourse stated that it added a new clause for the first Article in respect to issuing and converting GDRs. The new clause stipulates that the ratio of the number of shares converted in to GDRs to the company’s total issued shares don’t exceed the ratio of the free float to the company’s capital.
EGX stated that the new rules will effective as of 10 August 2016.
