BPE Investments becomes top gainer of 1st trading session in EGX

CAIRO – 29 March 2018: BPE Holding for Financial Investments was the top gainer of its first trading session in the Egyptian Exchange (EGX) at 9.95 percent.

The trading volume of the company reached 14,286 shares, traded through 25 transactions with a turnover of LE 168,861.

The company’s shares started trading by a price offering of LE 10.75, and the highest price it reached during the session was LE 11.82.

The market capitalization of the company recorded LE 1.38 million.

The company decided earlier to issue 35 percent of its LE 1.7 billion capital in EGX.

On March 6, Financial Regulatory Authority (FRA) approved the issuing program of BPE Holding for Financial Investments (BCAP), in preparation for the offering of the company’s shares in the Egyptian Exchange (EGX), to be the first public company to issue its shares in 2018.

BPE Investments’ initial public offering (IPO) was oversubscribed 84.4x by the end of Monday’s session through the sale of 422 million shares out of 5 million shares offered to the public offering.

The Egyptian Exchange set the period from March 29 to April 29 to open the market for the purchase of BPE Holding shares within the mechanism of stock price stability.

It announced that the IPO and private offerings are both oversubscribed by 100 percent after the issuance of 5 million shares in IPO and 38.13 million shares in a private offering.

BPE Holding is hoping to gain LE 460 million from the sale of 43 million shares, with the aim to use the outcome of this IPO in financing projects in the renewable energy and non-banking financial services sectors.

Sigma Capital was the sole coordinator and bookrunner, while Zaki Hashem & Partners acted as the legal counsel to the issuer.

BPE Holding for Financial Investments operates within the diversified financial sector focusing on investment banking & brokerage.

It has one subsidiary operating in Egypt, working on household appliances. BPE Holding for Financial Investments is based in Giza, Egypt, and was established in April 2006 through 18 domestic and foreign investors.

The investment portfolio of the company includes: Ebtikar Investment Finance, Total Egypt, Nasr City Housing and Development, Power Generation Engineering and Services Company (PGESCo), Giza Systems, Cairo Kidney Center, BIO Pharma Egypt, and Al-Ismailia for Real Estate Investment.