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By Ahmed Allam
Cairo – Mubasher: EFG-Hermes, co-head of the group's underwriting and underwriting sector, said foreign investors had taken 70 to 80 percent of Fawry's private placement.
Foreign investors who took part in the Fourie private placement are of different nationalities, from Europe in Europe, the United Arab Emirates, Saudi Arabia and South Africa, said at a press conference during the press conference received Thursday the Egyptian Stock Exchange.
Gad added that the current moment for an immediate launch on the Egyptian stock market is appropriate given the implementation of the comprehensive agreement, which provides liquidity in the Egyptian market.
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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