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Arab Finance: The private offering of Korra Energi was covered 3.02 times, instead of the previously announced coverage ratio of 5.7 times, Prime Capital, the IPO bookrunner, unveiled.
This follows a review of subscription amounts submitted through participating brokerage firms in the offering.
Moreover, the Egyptian Exchange (EGX)announced that the firm executed the public and private offering of 247.5 million issued shares, representing 11% of Korra's capital, offered at EGP 2.97 per share during trading on June 4th, 2026, raising a total of EGP 735.1 million.
The public offering included 99 million shares, representing 40% of the total offering and 4.4% of the company's total capital.
The private placement comprised 148.5 million shares, representing 60% of the total offering and 6.6% of the company's total capital.
Separately, Misr Clearing, Depository and Central Registry Company (MCDR) said that excess subscription amounts beyond allocated shares were made available in the settlement accounts of brokerage firms with clearing banks on the morning of June 1st, 2026.
