EGX executes e-Finance offering with value of LE 5.84B

CAIRO – 18 October 2021: The Egyptian Exchange (EGX) announced the implementation of the public and private offering of e-finance for financial and digital investments, which offered 417.77 million shares, representing 26.1 percent of the company's issued capital, at a price of LE 13.98 per share in two tranches (public and private) with a total value of LE 5.84 billion.

EGX said in a statement, Monday, that the public offering numbered 25.77 million shares, representing 6.17 percent of the total shares offered for sale, which represented 1.61 percent of the company's total issued shares.

It added that the private offering numbered 392 million shares, representing 93.83 percent of the number of shares offered for sale, which represented 24.5 percent of the company's total issued shares.

The total quantities of purchase orders (initial quantity) registered in the private deals market amounted to 1.58 billion shares.

On Sunday, the EGX said that the public offering of e-finance for financial and digital investments was oversubscribed 61.36 times, at the end of the period specified for recording buy and sell orders for it.

It indicated in a statement, that the total quantities of purchase orders (the initial quantity) registered in the private deals market amounted to 1.58 billion shares.
 

E-finance for financial and digital investments said that the price range of the company's offering of the company's shares on the Egyptian Stock Exchange, "the public offering", ranges between LE 12.50 and LE 13.98 per share.

The company obtained the necessary approvals to register its shares on the Egyptian Stock Exchange from the Financial Supervisory Authority on September 23, 2021, noting that the completion of the expected offering process and the start of trading on the company’s shares are taking place in accordance with the requirements and requirements of the Egyptian Financial Supervisory Authority and the Egyptian Stock Exchange, and after the completion of the process of building a record of orders.