EFSA to require fair value reports when stocks show sharp movements
The Egyptian Financial Supervisory Authority said in a statement that changed rules to allow it to request Fair Value reports when share price moves are not in line with earnings, news, sector moves or market direction. The new rules apply if stock moves more than 50% in three months or less or if it moves more than 75% in six months or less. Companies will be required to hire an independent financial adviser and file studies within one month of EFSA request. Reports should be made public. (Bloomberg)
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