E-finance public offering subscription starts Sunday

CAIRO – 10 October 2021: The Egyptian Stock Exchange (EGX) said that orders will be received and recorded on the shares of e-finance for financial and digital investments at a maximum price of LE 13.98 per share, from Sunday, Oct. 10, until the end of October 17.

The EGX indicated that the volume of the public offering tranche is 25.77 million shares, representing 10 percent of the total shares offered for sale, which represents 1.61 percent of the total shares of the issuing company.

It indicated that the minimum order is 100 shares, and the maximum number of public offering shares.

The stock exchange added that the volume of the private offering tranche is 232 million shares, representing 90 percent of the number of shares offered for sale, which represents 14.5 percent of the company's total issued shares.

The EGX pointed out that the minimum number of individual investors' requests in the private offering amounted to LE 5 million without a maximum limit, while the minimum for financial institutions is LE 10 million without a maximum limit.

It added that the final price will be determined after the closing of the private offering, on Tuesday, October 12, i.e. three working days before the closing of the door for receiving applications, which ends on Sunday, October 17.

The Securities Listing Committee decided to list the shares of e-finance for financial and digital investments with an issued capital of LE 800 million, distributed over 1.6 billion shares with a nominal value of LE 0.5 per share, represented in 8 issues in the listing table of Egyptian securities (shares).

This is in accordance with the rules for listing and delisting securities issued by the Financial Supervisory Authority Board of Directors Decision No. (11) on January 22, 2014, its executive procedures and their amendments, especially Article (1), with no dealing in the company’s shares during that period from the date of registration until the commencement of trading on these shares except with the approval of the Authority, and the registration shall be considered as if it had not occurred in the event that the company did not offer its shares within one month from the date of its registration with the Authority and that items (1, 2, 3, 7) of Article (7) of the listing rules are met, unless extending this period with the approval of the Authority in the cases it deems appropriate.

A "Ticker Symbol" has been assigned to the company, which is EFIH.CA, and the company is housed in the communications, media and information technology sector.