|08 August, 2019

Egypt's Fawry shares jump 29% in first day of trading

Fawry listed 36% of its share capital and was advised by investment bank EFG Hermes

CAIRO - Shares in digital payments company Fawry jumped 29% to 8.33 Egyptian pounds in their first day of trading on the Egyptian stock exchange on Thursday.

The initial public offering was oversubscribed 30.3 times at a price of 6.46 Egyptian pounds, data from the stock exchange showed.

Fawry listed 36% of its share capital and was advised by investment bank EFG Hermes.

(Reporting by Ehab Farouk, writing by Nafisa Eltahir; editing by Jason Neely) ((Nafisa.Eltahir@thomsonreuters.com; +971 56 22 61754;))

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