Capital Market law amended in Egypt
Investment Minister Ashraf Salman
Cairo - MENA
Investment Minister Ashraf Salman has issued a decision amending some provisions of the Capital Market Law.
The amendments included developing new rules to regulate the shares issuance, and amending the rules governing the issuance of capital stock to comply with international rules, and requirements of the Egyptian auditing standards.
The new modifications allow the extraordinary general assembly of companies to launch stocks for the public subscription directly, without the realization of the priority rights of old shareholders if prescribed in the statute of the company.
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