The New Listing Directives

The Chief Executive Officer (CEO)  of Amman Stock Exchange (ASE) Jalil Tarif, said that the ASE 's Board of Directors determined the  trading hours, price thresholds and the pricing method used for each market according to the new Listing Directives  which became effective as of 1/10 /2012, as  to begin the  implementation of the new trading hours and the new  price thresholds from the morning of Thursday, 01/11/2012.

The ASE 's Board of Directors determined the price thresholds for the shares of companies listed on the First Market to become (7.5%) instead of (5%), and leave  the hours and phases of the trading session unchanged.

In regard to the second market, the price thresholds for the shares of companies listed on the Second Market remained unchanged (5%), moreover, the trading hours and phases will remain the same.

As for the third market it was decided that trading in shares of companies listed in this market will be within continuous  pricing set, nevertheless, the duration of continuous trading session for this market was limited to about 20 minutes preceded by a 5-minute  for the pre-opening phase and about 5 minutes to pre-close phase . Price thresholds for the shares of companies listed in the third market will be (5%), and this percentage is the permissible percentage for the price to exceed during the trading session in case of reservation for the securities listed in the Third Market.

Tarif said that shares of companies listed for the first time in the exchange will be listed directly in the second market after acquiring the right to commence its business for at least one year and provide the stock exchange with its financial statements in addition to another set of documents.

The CEO of the ASE also explained that the new directives obliged all the listed companies for the first time to provide the ASE with its quarterly report reviewed by its auditors as of the first quarter of the year 2013 as well as the annual and semi- annual report of the company.

 The new directives granted the ASE the authority to impose sanctions on the issuers of the securities listed on ASE f they violate any of the provisions of the listing Directives and any decisions passed in respect thereof, these sanctions range between warning, transferring the listing of the issuer's shares, suspension and de-listing of the securities.

It is worth mentioning that (55) companies have achieved the requirements for listing on the First Market, and  ​​(149) in the second market. Note that the rest (39) companies that did not achieve the requirements for listing in both the first and second market will be listed in the Third Market, as of Thursday morning 01/11/2012

Annex a list of companies listed in the ASE according to its market, and the new schedule for trading in the third market. 

Trading Session Phases and Hours for the

Third Markets