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SOURCE: Cairo – Khaled Hosny
The Egyptian stock market began trading on Wednesday after Eid al-Adha's holiday, in a context of strong positive performance and gains of more than 2% on the main stock indexes.
According to data from the Egyptian Stock Exchange, the main index "EGX 30" rose 2.21% to 14493 points. The index of small and medium stocks "EGX 70" rose by 1.53% to 538 points. Gains extended to the broader "EGX 100" index, which gained 1.79% to 1429 points.
The increase was supported by CIB, the most weighted portion of the index, with the Commercial Bank up 2.73% to EGP 77.
The trading value of the IPC is set at 132 million Egyptian pounds, representing 25% of the total liquidity of the Egyptian stock market.
In its second session on the Egyptian Stock Exchange, Fawry continued its success, which was the first to be traded on the Egyptian Stock Exchange on Thursday, registering an increase of about 8.86% until noon until 39, at midday, thus ignoring the calm that reigned due to the feast of Eid Al-Adha.
At the same time, the turnover reached 45.7 million EGP, or 9.2 million shares.
The stock advanced 31.3% Thursday at the end of the first trading session, priced at 8.48 pounds sterling, for a trading value of 394.3 million pounds sterling.
Fori Financial Services has offered approximately 36% of its shares on the Egyptian Exchange (EGX), representing more than 254,629 million common shares, in two tranches, the first offering is 31% and the second offering is 5% to 6%. , 46 LE per action.
The private placement was oversubscribed 15.9 times for a value of 7.1 billion EGP ($ 431 million).
The private placement represented approximately 21% of Fawry's share capital, ie 149.94 million shares distributed between Actis, Banque Nationale and Banque Misr, as well as 69 million Fawry shares, ie 9.8% of the share capital. institutional and strategic investors.
In addition, the initial public offering was oversubscribed 30.3 times. The total number of applications registered in the trading market amounted to 1.06 billion shares, for a total of 2.34 million purchase orders, compared to 35 million for the year. Shares proposed by the company, ie 5% of the company's capital.
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