New Fees for the Listing of Securit

On 18 October 2018, the Prime Minister issued Decree No. 2125 of 2018 (the “Decree”)[1] setting out the annual listing fees to be paid on January of each year by companies wishing to list their securities or financial instruments on the Egyptian Stock Exchange, and for the continuation of that listing. The Decree waives listing fees for securities and instruments issued by the state, which was also the case under the previous Prime Ministerial Decree No. 831 of 2014 that set out the old listing fees.[2] The new Decree also kept a cap of EGP 500,000 as the maximum fee per annum while classifying the due fees according to the size of the company’s capital, as opposed to a flat fee of 0.2% which was previously applied to all companies regardless of the size of their capital.  Fee categories are therefore as follows: Fees are 50% less than the rates provided in the schedule above for small and medium enterprises. As for debt instruments and bonds, the fee is 0.2% from value at issuance, with a cap of EGP 50,000 per annum.   [1] Prime Ministerial Decree No. 2125/2018 setting out the listing fees to be paid by companies wishing to list their securities or financial instruments on the Egyptian Stock Exchange, Official Gazette, Issue No. 42 (cont.), 18 October 2018. [2] Prime Ministerial Decree No. 831/2014 amending Minister of Investment Decisions No. 259/2007 and 231/2008 setting out the listing fees for securities on the Egyptian Stock Exchange, Egyptian Gazette, Issue No. 113 (cont.), 19 May 2014.