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The Chairman of the Egyptian Exchange (EGX) Mohamed Omran revealed on Tuesday that nearly 121 companies with less than 5 million outstanding shares will no longer need permission from the EGX to split their shares as pursuant to the new rules set by the market regulator.
Speaking to state-owned agency MENA, the top official said the EGX board would review in its upcoming meeting the executive regulations for listing rules, which were set by a committee formed by him.
Oman added that the name of these companies would be posted on EGX website before the end of this week.
