Draft Project to Amend the Instructions of Listing Securities at (ASE)
08-Apr-2012
Jordan Securities Commission (JSC) started an initiative to reconsider the Instructions of Listing Securities at the Amman Stock Exchange (ASE). The initiative is conducted by a mutual work team of experts from the (JSC) & the (ASE).
The initiative looks forward to cope with structural changes occurring in capital markets; locally, regionally & internationally. It also looks forward to cope with economic developments the region is witnessing. As well as, to adopt up to date international practices related to regulating financial markets & interacting positively, to protect investors & enhance awareness of the available investment opportunities at the (ASE).
This new draft project of the Instructions of Listing Securities aims to reconsider the divisions of markets & listing requirements to change the current situation of stock markets from two markets: (first & second), to three. Each market will have different listing requirements from the other.
Thus, companies to be listed in these three markets will differ from each other according to classification & distribution requirements that take into account the following standards: profit, liquidity, capital & disclosure, in order to enhance transparency, fairness, increase market efficiency & liquidity.
In a new approach, (JSC) proposes a draft project to amend the Instructions of Listing Securities at the (ASE) to all concerned parties in Jordan capital market including, investors, brokers, listed companies & others, to state their opinions on suggested recommendations within two weeks from the date of disseminating this draft on (JSC) electronic website. The (JSC) wishes to be acquainted with their opinions & suggestions to benefit from these before finalizing the Instructions of Listing.
The attached documents are merely “draft projects” that maybe altered & amended as deemed proper for the public interest, nor is any part of these documents final yet.
We highly appreciate your concern & cooperation.
Note: Kindly send your views & opinions by any of the following means:
Email: info@jsc.gov.jo.
Fax: 06-568-2615.
Attachments:
• Draft Project to Amend the Instructions of Listing Securities at the (ASE).
• Amend the Instructions of Listing Securities at the (ASE).