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From: Hiba Kurdi
Cairo – Mubasher: Fawry shares rose significantly in the first trading minutes on the Egyptian Stock Exchange, rising 33%, accounting for 64% of stock market trading.
At 10:15, FOURY was at 8.55 EGP per share.
The value of trading on the stock of about 180 million pounds, through 21.7 million shares.
The market value of the Egyptian stock market recorded 280 million pounds through 58 million shares.
The company offered 36% of its shares on the Egyptian stock market – more than 254,629 million common shares – in two tranches, the first private placement to 31% and the second 5% public offering, priced at 6, £ 46 per share.
The private placement was oversubscribed 15.9 times for a value of 7.1 billion EGP ($ 431 million).
The private placement included 21% of Fawry's share capital, ie 149.94 million shares divided between Actis, National Bank and Misr Bank, as well as 69 million Fawry shares, or 9.8% of the total. capital of institutional and strategic investors.
The IPO was oversubscribed 30.3 times, with 1.06 billion shares listed on the market, through 2.34 thousand orders, versus 35 million shares offered by the company, or 5% of the capital of the company.
It should be noted that the Listing Committee of the Egyptian Stock Exchange approved the listing of Fawry Bank Technology and Electronic Payments in the capital of LE 353.65 million, spread over 707.3 million shares, a nominal value of 50 piastres per share, represented in 8 issues of the table of quotation of the Egyptian values.
The stock market announced that it would list the company's shares in the database as of Monday, July 29 (ie, once the 5-day period of registration to the completed, as follows: (p.1 – p.8) 707 304 120 shares.
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