"Instant" places 36% of its shares on the Egyptian stock market at 6.46 pounds

Furi Banking Technology and Electronic Payments, the largest Egyptian electronic payment company, set Friday the final price of the offer of 36% of its shares on the Egyptian stock market at 6.46 pounds sterling (about 0.39 US dollars ) per action.

In a statement received by Reuters, EFG-Hermes said it holds approximately 254,629 million shares representing 36% of the company's capital.

The IPO is expected to begin July 26-31, and July 28-August 5.

The shares are expected to be traded on the Egyptian stock exchange on August 8, 2019, after approval of the stock exchange.

According to a previous statement from Hermes, which promotes the process and promises coverage and coordination, the list includes a special offer aimed at institutional investors outside the United States, Australia, Canada and Japan. , as well as a public offering for individual investors in Egypt. Both offers will be of the same price.

Fouri belongs to five local, foreign and Arab investment funds. The company was established in 2009, is also active in the banking technology sector and provides financial services to individuals and businesses. Management and employees account for 8% of the company's shares.

The capital of the company amounts to 353.652 million pounds ($ 21.37 million), divided into 707.304 million shares with a par value of 0.50 pound per share.

Combined revenues for the first quarter of 2010 were EGP 173.9 million, up 36% over the previous year, and EBITDA of 42.4 million EGP, up 52% ​​over the same period last year. , 7% compared to the same period of the previous year.

The latest public offering from a private company to ESA was the launch of Tharwa Capital, a specialist in financing solutions, last October.