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Listing Requirements

Before the company starts the listing process at the SMES Market, it should be listed at the Financial Regulatory Authority (FRA) and it should fulfill the following requirements:
  • The shares should be Central Registered and Deposited.
  • The company Decree and terms of issue should not contain any restrictions on the trading of its listed shares.
  • The company should submit financial statements for the two fiscal years prior to the listing request. In case of issuing only one financial statements for a full fiscal year, the company shall submit a 3 years future business plan that includes the expected results approved by the nominated advisor or a financial consultant accredited by FRA. This should also include an approval from FRA on the financial consultant study of the share?s fair value in term of the rules and methodologies used in the study.
  • The shareholders' equity for the annual financial statements or periodical one prior to the listing request date should not be less than paid-in capital.
  • The capital should be fully paid.
  • The listed shares should not be less than 25% of the total company shares and the number of shareholders should not be less than 100 shareholders.
  • The percentage of retention of the founders and Board members should not be less than 51% of its capital and with a minimum of 25% of the total shares requested for listing for a period of not less than two fiscal years from the listing date. They should also keep this 25% for another consecutive fiscal year.

EGX Listing Rules (Arabic) Click here ...
Executive Regulations of the Listing Rules (Arabic) Click here ...
Listing Request Attachments (Arabic) Click here ...

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