CMA LAW: The Capital Markets Authority Announces Filing a Report with the Prosecutor General Regarding the Occurrence of a Crime

The Capital Markets Authority announces filing a report with the Prosecutor General on 27/11/2024 regarding the occurrence of the crime stipulated in paragraphs (a,b) or Item No. (1), and paragraph (c) of Item No. (2) under Article No. (122) of Law No. 7 of 2010 and its amendments, the defendants during the period from 24/04/2024 to 26/05/2024, traded on the securities exchange on the shares of Mena Real Estate Company (Mena) through their electronic trading accounts and executed pre-organized, recurring and joint deals among them at different prices and in several trading sessions on a daily basis, which led to increased momentum on the share and a significant increase in its value and attracted the general public of traders to deal on the share at these prices in a misleading manner.

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