The mid and small cap companies that qualify to get listed on Nilex are those companies whose issued capital is less than L.E 25 million. Listing shall be enacted according to the following rules:
The nominated advisor advises and assists the company on all its responsibilities during the application process and ensures the company's compliance to the listing and disclosure rules. The nominated advisor's obligations and responsibilities will be maintained for at least two years from the listing date.
All listed securities must be deposited at the Central Depository.
The company's by-laws or the issuing terms should not include any constraints on the trading of the securities to be listed.
The issuing company must have financial statements for at least one fiscal year preceding the listing application.
Shareholders equity should not be less than 50% of the company's paid capital in the year preceding the listing application.
The issued capital should be fully paid at a par value ranging from L.E 1 to L.E 5 per share.
The number of issued shares to be listed should not be less than 100 thousand shares.
The minimum free float should be at least 10% of the total issued shares and the number of shareholders should not be less than 25.
From another perspective, the majority of the disclosure rules have been maintained to ensure market efficiency and investor protection, in particular the disclosure requirements regarding the company's announcements of corporate actions and material events.
Financial Statements & Reports
The listed companies should submit their quarterly and semi annual financial statements, approved by the company's management, within 45 day from the end of the period and should submit its audited annual financial statement within 90 day from the end of fiscal year of the financial statement.
The exchange will publish the companies' financial statements and financial results for only one day on the trading terminals. Moreover, the General Assembly's decisions concerning dividend distribution and dividend dates are to be published via trading terminals and the website of the stock exchange.
For Nilex listing & disclosure rules, please click here
