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From: Hiba Kurdi
Cairo – Mubasher: The Egyptian Stock Exchange (EGX) received immediate shares in its first trading session, up 1.6%, exceeding 14100 points.
At 10:55, as of today 's meeting, the main index of the Egyptian stock market rose 1.59% to 14,103 points.
In the meantime, Fawry jumped about 30% during the first trading session, realizing a turnover of about 257 million pounds, which represents 455% of the liquidity of the stock market.
The trading value of the Egyptian Stock Exchange is approximately 574.9 million pounds, or 102 million shares.
Egyptian stock indexes dominated the index in the meantime, with the 70th index up 0.66% and the EGX 100 index up 1.18%.
EFG-Hermes, co-director of the IPO's promotion and underwriting division, said foreign investors had taken 70 to 80 percent of Fawry's private placement.
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.
appointments:
4. Factors mitigating the effect of the increase "Hydrocarbons" By reading inflation
The gold reserves of Egypt at the highest level since their floating
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