Egypt’s CIRA jumps 24% in first day of trade- bourse

The share closed at EGP7.45 ($0.4167), up from EGP6, its initial public offering (IPO) price.

  
A trader works at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

A trader works at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

REUTERS/Mohamed Abd El Ghany

CAIRO- Share in Egypt’s Cairo for Investment and Real Estate Development company (CIRA) CIRA.CA jumped 24 percent in their first day of trading on Monday, bourse data showed.

The share closed at 7.45 Egyptian pounds ($0.4167), up from 6 Egyptian pounds, its initial public offering (IPO) price.

The company's IPO of 14.5 million shares was 18.9 times oversubscribed.

($1 = 17.8800 Egyptian pounds)

(Reporting by Ehab Farouk, writing by Sami Aboudi; editing by Jason Neely) ((Sami.Aboudi@thomsonreuters.com; +20223948181;))


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