Registration of the shares of "Instant" e-payment on the Egyptian stock market in preparation for an action

The Egyptian Markets Committee has approved the listing of the shares of Fawry Banking Technology and Electronic Payment Company, the largest electronic payment company in the country, as of Monday, July 29th.

The Egyptian stock exchange said in a statement that the restriction was considered "as if it was not the case if the company did not issue its shares within one month of the date its registration with the General Authority of Financial Supervision ".

It intends to place 36% of its capital on the Egyptian stock market.

The list includes a private placement for institutional investors outside the United States, Australia, Canada and Japan, as well as a public offering for private investors in Egypt, at the price of the same price.

Fouri's chief executive told Reuters earlier this month that the company had begun preparing for its IPO on the Egyptian stock market and that this process would take place in 2019 or early 2020.

The company was established in 2009 and is also active in the banking technology sector and provides financial services to individuals and businesses, whose management and employees account for 8% of the 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 £ 173.9 million, up 36% year-on-year, and EBITDA of £ 42.4 million, compared to last year. up 52.7% over 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.