FRA Chairman Mohamed Omran said that companies under liquidation (cc: IRON) will only be available for trading on Sundays & Wednesdays.
More details🧐 The decision comes in light of Egyptian Iron & Steel’s (IRON) stock price surging more than 111% during November, resulting in the cancellation of recent trades on the stock.
Why is this important🤔 The FRA had said that it would look into the rules governing both the mandatory delisting of companies & trading of companies under liquidation following the surge in IRON’s stock price. The decision to trade twice a week addresses the latter.
