UPDATE 1-Egypt bourse to reduce free float required to list on EGX 30

May 28, 2015 8:58 AM

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CAIRO May 28 (Reuters) - Egypt's stock exchange said on Thursday it would reduce the free float required for new companies to list on its benchmark EGX 30, as part of structural changes to the index.

Companies previously had to have a 15 percent free float to list on the EGX 30. Under the new rules, which take effect on Aug. 1, firms will be able to join with a minimum 5 percent free float as long, as the market value of the float is at least 100 million Egyptian pounds ($13.1 million).

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