Cairo – Mubasher: The board of directors of the Egyptian Financial Regulatory Authority (FRA) approved new temporary measures, scraping a three-day notice requirement for listed companies planning to purchase treasury stocks.
Companies listed on the Egyptian Exchange (EGX) can now buy treasury stocks on the same day they notify the stock exchange to purchase the stocks, according to a statement on Sunday.
This move aims at supporting the stock market after being hit by concerns over the new coronavirus.
