IPOs and EGX Listings
El Said, speaking at the Joint annual meeting of the Arab financial institutions in Cairo, mentioned that the government is presently engaged in evaluating offers and intends to make a selection soon
The IPO will involve offering a stake ranging from 30% to 35% of the IT arm's shares
Upon the successful closure of this acquisition, Raya Holding's ownership in Ostool will increase to 90 percent, as disclosed by the company on the Egyptian Exchange (EGX)
The acquisition, which will see B Investments purchase up to 90% of OFH, was announced back in June
During the session, fruitful discussions were held regarding the organization of specialized banking forums in Egypt, Tunisia, and Qatar.
Egypt sold a 10 percent stake in the company via the Egyptian Exchange (EGX), reducing the finance ministry’s stake to 70 percent
The IPO program, which now totals to 35 companies, is one of state strategies to overcome the shortage of foreign currency by attracting more investors.
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